Duminda Silva to boost Adam Investments debut trading at CSE today

Tuesday, 10 June 2014 01:03 - - {{hitsCtrl.values.hits}}

Ordinary voting shares of Adam Investments Plc (AINV) is set to commence trading today on the Diri Savi Board of the Colombo Stock Exchange (CSE) with the presence of Colombo District MP and Monitoring MP Defence Duminda Silva, the company said. It said MP Silva accepted the invitation presented by Adam Investments Director/CEO Larry Adams to ceremonially open trading. AINV is categorised under the diversified holdings sector in the Colombo Stock Exchange.

The initial public offer of 133,333,500 shares at Rs. 3 per share valued at Rs. 400,000,500 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 Ltd., Adam Metals Ltd., Adam Apparels Ltd., Adam Automobiles Ltd. and Adam Air Conditions Ltd. Interestingly, all of these companies pre-date the formation of AINV with some of them established and operating for over 40 years, 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 Board of Directors of Adam Investments comprises Chairman Deshabandu Dr. Ali Asger Shabbir Gulamhusein, Chief Executive Officer/Executive Director Rev. Dr. Lawrence Mervyn Fitzgerald Adams, Executive Director Danushya Chintha Mediwake Gulamhusein, Non-Executive Director Taher Abbas Gulamhusein, Non-Executive Director Idris Shabbir, Non-Executive Director Malayandi Jeyaprakash, Executive Director Loolbadda Waduge Waruna Priyankara, Non-Executive Independent Director G. Ramanan and Non-Executive Independent Director Imran Zahir.