Anilana shares to hit bourse today

The shares of Anilana Hotels & Properties PLC (ALHP) will be listed in the Colombo Stock Exchange’s Diri Savi Board today for trading, following the oversubscription of its IPO last month.

In total, 383.7 million shares of Anilana will be listed with the hospitality group reportedly having drawn significant interest from foreign and institutional investors.

Among foreign funds reported to have invested in the venture founded by high-net worth investor Asanga Seniviratne, is wellknown global investment management firm, GMO Trust.

GMO declared an investment of US$ 1.65 million for the purchase of approximately 28 million shares following a pre-IPO private purchase agreement with Anilana.

As at March 31st 2013, GMO managed approximately US$ 110 billion in client assets, US$ 48 billion of which was in asset allocation strategies.

The new hospitality brand is also believed to have drawn investment from state-owned institutions according to market sources.

The first to hit the Sri Lankan market in over a year, the Anilana IPO with an issue price of Rs.12 per share, received subscriptions worth Rs.486.6 million at closing.

Proceeds from the IPO are to be utilized towards the construction of leisure properties in Nilaveli, Passikudah and Dambulla.

Further developments envisaged by the group in its second phase of growth include properties in Pannichankerni, Selladiv Island,Vakarai and Blue Lagoon.