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    BIL.N0000   LK0390N00001

BROWNS INVESTMENTS PLC

(BIL.N0000)
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Browns Investments : announces Rs. 19 b Rights Issue

03/16/2020 | 03:14pm EDT

Browns Investments Plc has announced plans to raise a staggering Rs. 19 billion via a Rights Issue.

The basis of the Rights Issue will be two new ordinary voting shares for every one held. This involves the issuance of 9.

579 billion shares and will be at Rs. 2 per share.

The current stated capital of Browns Investments is Rs. 11.84 billion represented by 4.

789 billion ordinary voting shares.The company said the money raised from the Rights will be used for the settlement of debts.

As at 31 December 2019, Browns Investments Plc had Rs. 9.

6 billion in long-term interest bearing borrowings, Rs. 2.

6 billion in short-term borrowings and Rs. 25.5 billion in amounts due to related parties.

The net asset per share of Browns Investments is Rs. 8.

06 at the group level and Rs. 3.

42 at the company level. It last traded at Rs.

2.20. In the quarter ended 31 December 2019, the highest price was Rs.

5.20 and the lowest was Rs.

3.70 before closing at Rs.

5.Browns Investments has 17,892 public shareholders while its public float is 21.26%.

The major shareholders are Brown and Company Plc (32%), LOLC Investments (10.6%), Oxford Capital Ltd. (7.72%) and Churchill Capital Ltd.

(6.86%).

© Pakistan Press International, source Asianet-Pakistan

Stocks mentioned in the article
ChangeLast1st jan.
BROWN AND COMPANY PLC -2.28% 192.5 End-of-day quote.82.98%
BROWNS INVESTMENTS PLC -3.12% 9.3 End-of-day quote.116.28%
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Financials
Sales 2021 8 360 M 42,0 M 42,0 M
Net income 2021 -3 397 M -17,1 M -17,1 M
Net Debt 2021 29 203 M 147 M 147 M
P/E ratio 2021 -23,3x
Yield 2021 -
Capitalization 134 B 670 M 671 M
EV / Sales 2020 6,63x
EV / Sales 2021 12,9x
Nbr of Employees 9
Free-Float 25,6%
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Managers and Directors
Panduka Weerasinghe Chief Executive Officer
Ishara Chinthaka Nanayakkara Executive Chairman
Stefan Furkhan Independent Non-Executive Director
Jayanta Mootatamby Swaminathan Independent Non-Executive Director
Don Soshan Kamantha Amarasekera Non-Independent Non-Executive Director
Sector and Competitors