Browns Beach Hotels' exit offer launched

An exit offer to acquire shares from minority shareholders of Browns Beach Hotels PLC at Rs. 30 per share was made by Melstacorp PLC and Aitken Spence Hotel Holdings PLC. This move precedes the company’s intended delisting from the Colombo Stock Exchange (CSE).

The offer extends to minority shareholders following approval granted at an Extraordinary General Meeting on 10 April. While the offer opens today (5) and concludes on 5 June, it remains unconditional, allowing shareholders to sell all, part, or none of their holdings.

Financial records showed a negative net asset value of Rs. 5.75 per share as of late December 2025. During that quarter, the stock reached a peak price of Rs. 28.10 before closing at Rs. 25.10. Currently, 2,674 shareholders represent a public float of 9.09%.

A combined 78.5% stake is held by Melstacorp and Aitken Spence Hotel Holdings, while Stassen Exports Ltd. maintains 9.82%. Trading for the company remains suspended, and investors will lose the ability to trade on the CSE once the delisting concludes.

Consideration for accepted shares will be settled by 12 June. Transfers exceeding Rs. 100 million will utilise Real-Time Gross Settlement (RTGS), with smaller payments processed via SLIPS or bank drafts.

Browns Beach Hotels PLC will transition into an unlisted public company and operate as Browns Beach Hotels Ltd. following the delisting. This offer serves as a liquidity window for minority investors before the firm exits the public market.