Adam Investments goes for Rs. 400 m IPO

Adam Investments Ltd. (AINV), a newly-formed investment company which looks at investment, revival and management of a growing number of subsidiary companies as its core business, confirmed that it has received approval to list its shares on the Diri Savi Board.
Adam Investments received approval to list 449,993,700 shares on the Diri Savi Board of the Colombo Stock Exchange with an Initial Public Offer of 133,333,500 ordinary voting shares at Rs. 3 per share for a total consideration of Rs. 400,000,500.
Adam Investments has equity investments in several listed companies including Orient Garments PLC, Ceylon & Foreign Trades PLC and PC House Holdings PLC.
The company also has substantial shares of private limited liability companies which include Network Communications Ltd., Adam Metals Ltd., Adam Apparels Ltd., Adam Automobiles Ltd. and Adam Air Conditions Ltd.
The Board of Directors of Adam Investments comprises Deshabandhu Dr. Ali Asger Shabbir Gulamhusein (Chairman), Reverend Dr. Lawrence Mervyn Fitzgerald Adams (Chief Executive Officer/Executive Director), Danushya Mediwake Gulamhusein (Executive Director), Taher Abbas Gulamhusein (Non-Executive Director), Idris Shabbir (Non-Executive Director), Malayandi Jeyaprakash (Non-Executive Director), Loolbadd Waduge Waruna Priyankara (Executive Director), Govindasamy Ramanan (Non-Executive Independent Director)  and  Imran Zahir (Non-Executive Independent Director).