Millennium Housing Developers to be listed

Sanjeevi JAYASURIYA

The Millennium Housing Developers which is a subsidiary of Nation Lanka Finance will be listed in the Colombo stock Exchange shortly.

Jayantha Dharmadasa

Nation Lanka Finance PLC (NLF) Chairman Jayantha Dharmadasa told Daily News Business that the businesses moving in right directions are doing well in the current scenario while the stable political and economic situation has paved way for further growth. Although there are fluctuations in the stock market the investor confidence is high.

There are funds that could be mobilized and the country’s financial sector could progress further, he said.

The Nation Lanka Finance PLC will go for Rs 300 million Rights issue and the total fund injected will be Rs 800 million with the recent Rs 500 million private placement.

The capital infusion will strengthen the company, Nation Lanka Finance Chief Executive Officer Bede Fernando said.“We are looking for consortium investors to direct the business plan in to action.”

“We have strategic partners as new owners and the company’s new board is a blend of professionals and businessmen who are capable of taking the company to next level,” he said.

The future looks good. The Nation Lanka Finance is on the right track and with hard work the company could show results. The change in the management will enable to focus on opportunities in the financial sector, Access Equities (Pvt) Ltd Owner and Investor Head Asanga Seneviratne said.

“We plan to grow at a rapid pace in the near future while focusing on honouring all public deposits of the company,” he said.

The Ceylinco Stock Brokers which is another subsidiary will focus on the retail sector with plans to expand its business further.