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| Sunday, 12 October 2003 |
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| News Business Features Editorial
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Durdans Hospital announces Rs 240m IPO Ceylon Hospitals Limited, the owner of Durdans Hospital, has officially announced an Initial Public Offering (IPO) to raise Rs 240 million in new equity. While the issue will open on October 17, applications were being accepted from the 7th. The Prospectus is available with all stockbrokers as well as designated branches of Commercial Bank and DFCC Bank, joint managers to the issue. The IPO will consist of an issue of 4,500,000 new Voting Ordinary Shares of Rs 10 each priced at Rs 25 and 6,375,000 new Non Voting Shares of Rs 10 each at Rs 20. Applicants who apply for a combination of Voting and Non Voting Shares will get priority in allotment. The company proposes to use these funds for adding new capacity and equipment, improvement of infrastructure facilities, implement a new management information system and retire some of its debt. One of Sri Lanka's oldest private sector hospitals, Durdans later became Ceylon Hospitals Limited and was incorporated as a limited liability company in 1945. Today, it has a capacity of 125 beds with clinical departments housed in nine wards. An Intensive Care Unit, Coronary Care Unit, Emergency Treatment Unit, Surgical Intensive Care Unit and four operating theatres are part of the hospital complex. |
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| Editorial | Security Produced by Lake House |
