Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Wednesday, February 2, 2011

Interest for Browns Beach rights

A large crossing of 14 million Browns Beach rights (BBH rights) traded yesterday at Rs.5.30 and brokers believe those rights quantities are likely to have belonged to the top shareholders of the company.

Apart from the said crossing another 897, 000 rights of BBH traded on the board at the same price.

The two main stake holders of BBH are business tycoon Harry Jayawardena controlled Stassen Exports Limited with 4.2 million shares and Aitken Spence Hotels having 2.7 million shares.

Distilleries Company also has over 300, 000 shares of BBH, as per 30th September 2010.

BBH decided to go for Rs.2.1 billion- 7 for 2 rights issue at Rs.65 to raise funds for a complete overhaul of the landmark tourism beach property on the west coast of Sri Lanka. From 31 March, 2011, the 140-room hotel will cease operations making way to build a new 200 room resort within two years.

Originally built in the 1970s, Browns Beach is by far the oldest popular hotel in Negombo and was one of the country's best.

source - www.dailymirror.lk