At a glance .... highlights from the PROSPECTUS.!!
Issue Price
BROWNS INVESTMENTS (BI)
Promoters/Controlling shareholders (issued Nov 2008 - March 2010) @1/- (52.7%) i.e. Browns & Co PLC 26.34% & Teprobane Holdings 26.34%
Private Placement @5/- (44.6%)
IPO @5% (2.7%)
VALLIBLE ONE (VO)
Promoter/controlling shareholder @25/- (80%) i.e. KDD Perera (63.08%), Velilibel Investments (8.46%), Vellibel Leisure (8.46%)
Private Placement @25/- (18.04%)
IPO @25% (1.96%).
Basic Investment ratios (@IPO price)
NAPS
Vellibel ONE -post-IPO Aprox 25.15 (P/BV 0.99)
BROWNS INVESTMENTS -Post-IPO –Aprox. 4.46 (P/BV 1.12)
Business profile
Vellibel ONE -
Manufacturing
Royal Ceramic Group (51%)
Include
Royal Porcelain (100%), Rocell Bathware (100%), Royal Ceramic Distributors (100%)
Financial Services
LB Finance PLC (51%)
Sampath Bank (15%) – the largest Shareholder
Leisure
Greener Water Ltd (100%) – being constructed
Waskaduwa Beach Resort Ltd – 20% (an Associate Company)
Mini - Conglomerate
Delmage & Forsyth Co Ltd (51%) –
With more than 10 subsidiaries involved in Transportation (Air/shipping/Freight Forwarding), Travel & Tourism, Insurance Broking, Trading (FMCG, Import/Export, and Distribution), home and medical appliances … etc.
BROWNS INVESTMENTS (BI)
Plantation & Power
Joint Control entity – Free Lanka Capital (50%) owns Free Lanka Capital Holdings (FLCH) (54.65%) effective holding of BI in FLCH about 30%.
Free Lanka Capital Holdings (FLCH) has controlling stakes (directly and indirectly) in Hydro Power Free Lanka PLC owns mini hydro plants , and Mathurata Plantations Ltd and Pussellawa Plantations Ltd two of Regional Plantation companies.
Leisure
Samudra Beach Resorts (Pvt) Ltd – (100%) – A Luxury Hotel to be constructed
An Associate Company - LOLC Leisure Ltd (30%) owns controlling stakes in
Tropical Villas (Pvt) Ltd., Club Palm Garden Hotel PLC, Eden Hotels Lanka PLC,
Joint Control entity – Tea Leaf Resort Holdings (controls FLCH & Sierra)
Manufacturing
An Associate Company - Taprobane Capital (Pvt) Ltd (39.67%) – owns 68.95% of Royal Fernwood Porcelain Ltd (RFPL). Effective holding of BI in RFPL is about 27%.
Other Investments
Sierra Holdings (Pvt) Ltd - Minor Holdings (10%), which owns 58% of Sierra Cables Plc, 51% of Agstar Fertilizers (pvt) Ltd and 48% of Sierra Constructions (Pvt) Ltd
Sierra Constructions (Pvt) Ltd - Minor Holdings (10%)
Agstar Fertilizers (pvt) Ltd - Minor Holdings (10%)
Please share your observations .......