Jetwing Symphony (JSL) will have seven hotel properties by 2020 and is also planning to invest in Myanmar and in South East Asia, said Chairman, Jetwing, Hiran Cooray.
Jetwing Symphony Limited rang the opening bell to commence trading and celebrate the listing of its shares as the first listing at the Colombo Stock Exchange (CSE) for 2018. The listing follows a successful Initial Public Offering by the company in December 2017, through which it raised Rs. 753 million through a 50.22 million share issue.
Speaking at the event he further said that JSL incorporated in 2007, will function as the Jetwing Group’s investment arm for the future. “Our current portfolio includes Jetwing Yala (Yala), Jetwing Kaduruketha (Wellawaya), Jetwing Lake (Dambulla), Jetwing Surf (Pottuvil Point) and Jetwing Colombo Seven (Colombo).
We raised funds from the IPO recently to build two more properties and towards rebalancing the overall gearing mix in some of its properties. When this is completed we will invest in Cambodia Myanmar, Laos and Vietnam as these countries have many similarities with Sri Lanka.”
Cooray also expressed his appreciation to the many stakeholders that supported Jetwing Symphony through the listing process. He noted that the company will be the vehicle of growth for the Jetwing brand in the future and pledged the company’s continued commitment to carrying out a growth drive that would meet the expectations and interests of its investors.
CSE CEO Rajeeva Bandaranaike speaking at the event welcomed Jetwing Symphony Limited to the CSE and stated that the stock market has started the year on a positive note with a new listing in the very first week of trading for the year. He commended Jetwing for making a successful transition from a family business to a publicly quoted company and noted that the listing would offer Jetwing a new avenue to pursue a further expansion of the brand and business.
Jetwing Symphony recorded a commendable revenue growth of 44.5 percent to Rs. 734.7 million during the financial year 2016/17 in comparison to the Rs. 508.4 million earned during the previous financial year.
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