Sri Lanka’s Renuka Hotels surges on debut
Nov 21, 2017 15:48 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lanka’s Renuka Hotels closed at Rs168.80 on its debut on the Colombo stock exchange Tuesday, up 21% from its reference price of Rs139, after opening at Rs151 and hitting a high of Rs250.
The shares, which were listed by introduction on the Diri Savi second board of the CSE, have been classified under the ‘Hotels and Travels’ sector.
Renuka Hotels Limited and Renuka City Hotels PLC which form the Renuka Hotels Group own and manage two separate city hotels in the heart of Colombo.
The group also owns and manages an extensive share portfolio, consisting of mainly listed equities and further investments in listed debentures, a statement said.
The sectors covered include hospitality, plantations, manufacturing, financial services, telecommunication, construction & engineering, healthcare and more.
“We endeavoured to list the company supported by the request made by our shareholders to do so and also with the expectation that it will strengthen the image and the identity of the company through broadened ownership,” Executive Chairperson and joint managing director of Renuka Hotels Limited Shibani Thambiayah said.