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Beruwala Resorts to Raise Rs398Mn for The Palms in Sri Lanka

Published Friday, 24th July 2026 8:04 AM

MONETABRIEF – Beruwala Resorts Plc, the owners of The Palms hotel in Sri Lanka, said it had decided to raise 398 million rupees through a rights issue of shares to existing shareholders.

The board of directors had approved a plan to sell 318.42 million shares at 1.25 rupees, the firm said in a stock exchange filing.

Shareholders would get the right to buy 5 shares for every existing 11.

The money will go to complete a refurbishment of The Palms hotel in Beruwala. (Colombo/July24/2026)

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