MP R. Duminda Silva open share trading in Adam Investments
Date: Tuesday, June 10, 2014 @ 11:13:13 LKT
Topic: Business & Financial News
Ordinary voting shares of Adam Investments Plc commenced trading this morning on the Diri Savi Board of the Colombo Stock Exchange under the patronage of Colombo District MP R. Duminda Silva.
MP R. Duminda Silva accepted the invitation presented by CEO Larry Adams to ceremonially open trading in Adam Investments PLC shares.
AINV is categorized under the diversified holdings sector in the Colombo Stock Exchange.
The initial public offer of 133.3 million shares at 3 rupees per share valued at 400 million rupees was fully subscribed with the offer closing early, paving the way for an early introduction of shares to the trading floor of the CSE.
Adam Investments Ltd., has equity investments in Orient Garments Plc, Ceylon & Foreign Trades Plc and PC House Holdings Plc and substantial shares of private limited liability companies, namely Network Communications (Pvt) Ltd., Adam Metals (Pvt) Ltd., Adam Apparels (Pvt) Ltd., Adam Automobiles (Pvt) Ltd., and Adam Air Conditions (Pvt) Ltd. Interestingly, all of these companies pre-date the formation of AINV with some of them established and operating for over 40 years, and others already publicly listed companies.
"The board of directors believes uniting these entities under the Adam Investments umbrella will strengthen all, allowing each company to thrive in their respective sectors, while synergies and streamlined management practices between companies could help create a sustainable environment for growth and excellence," the company said.
Board of Directors of Adam Investments PLC., Dr. Ali Asger Shabbir Gulamhusein- Chairman, Rev. Dr. Lawrence Mervyn Fritsgerald Adams-Chief Executive Officer/Executive Director, Danushya Chintha Mediwake Gulamhusein - Executive Director, Taher Abbas Gulamhusein-Non-Executive Director, Idris Shabbir-Non-Executive Director, Malayandi Jeyaprakash- Non-Executive Director, Loolbadda Waduge Waruna Priyankara - Executive Director, G. Ramanan- Non-Executive Independent Director and Imran Zahir- Non-Executive Independent Director.