By Jithendra Antonio
Yet to open its two iconic leisure projects, Six Senses Before Galle and Six Senses Meeraladuaa, Thai-based Six Senses group is planning to raise over Rs.2.2 billion via a private placement and private sell down of shares this week.
Speaking to Mirror Business, managers to the issue, Head of Corporate Finance at Capital Alliance Deshan Pushparajah said, initially Six Senses would be raising nearly Rs.1.14 billion offering 85 million shares.
“In the event of an oversubscription, we will further raise another one billion through a private sell down of 82.5 million shares” he said noting that the shares are offered at Rs.13.50 per share.
He went onto say that Six Senses may go for an Initial Public Offering (IPO) towards the end of the year. Six Senses local unit’s current share capital is worth over Rs.6 billion and is represented by nearly 460 million ordinary voting shares.
In Sri Lanka, Six Senses jointly operates with blue chip firm Aitken Spence (as an affiliate). It recently said that due to the continuing surge in interest in Sri Lanka’s property market, the third leisure project; Six Senses Ahungalla will launch 14 oceanfront multimillion dollar residences for sale by the fourth quarter of this year.
However, it is said the third project is part of redeveloping the existing Heritance hotel located North of Galle, which is part of Aitken Spence group.
The company already has spas at Aitken Spence Group hotels in Kandalama and the Tea Factory, and recently changed the spa management arm’s name from ‘Waterfront Spa Private Ltd.’ to Six Senses Holdings.
Pushparajah went on to say that Six Senses will have nearly four to five leisure development projects by end of this year, when launching the IPO. The company is currently raising funds to develop three properties.
Meanwhile, in a recently report it was revealed that Aitkin Spence is actively searching for a hotel development partner for a mixed use project. The reports said that a destination master planned project with two resorts, commercial and residential homes are located on a 108 acre oceanfront site.
Among the local establishments, Six Senses Before Galle is located on the western coast of Sri Lanka, some 70 kms South of Colombo. The resort will have 54 villas; 24 one bedroom villas, 8 one bedroom duplex villas and 8 two bedroom duplex villas. There will also be 14 residential villas, available for sale. The Six Senses Spa at Before Galle will have 12 treatment rooms, including 2 herbal Hammam rooms and a cave treatment room.
Six Senses currently operates fourteen high-end resorts branded as Soneva, Six Senses and Evason in the Maldives, Thailand, Vietnam, Oman and Jordan. There are also several new developments underway in locations such as Morocco, Turks and Caicos and China. The Six Senses Spa division has twenty-seven company-operated spas, with new spa developments underway in several locations, including India, Morocco and, Oman. The group recently launched the Six Senses Sanctuary brand of destination spas.
Among the local establishments, Six Senses Before Galle is located on the western coast of Sri Lanka, some 70 kms South of Colombo. The resort will have 54 villas; 24 one bedroom villas, 8 one bedroom duplex villas and 8 two bedroom duplex villas. There will also be 14 residential villas, available for sale. The Six Senses Spa at Before Galle will have 12 treatment rooms, including 2 herbal Hammam rooms and a cave treatment room.
Six Senses currently operates fourteen high-end resorts branded as Soneva, Six Senses and Evason in the Maldives, Thailand, Vietnam, Oman and Jordan. There are also several new developments underway in locations such as Morocco, Turks and Caicos and China. The Six Senses Spa division has twenty-seven company-operated spas, with new spa developments underway in several locations, including India, Morocco and, Oman. The group recently launched the Six Senses Sanctuary brand of destination spas.
source - www.dailymirror.lk
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