Browns Investments PLC acquires 100% holding in LOLC Leisure Ltd.

Free Lanka Capital Holdings

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FLCH a joint venture between Browns Investments PLC and Perpetual Holdings is a listed company in the CSE.  It had a highly successful IPO on the 17th of March with IPO being oversubscribed over 45 times. FLCH is a major shareholder and operates Maturata Plantations Ltd and Pussellawa Plantations Ltd. The company also is the major shareholder of Hydro Power Free Lanka.  HPFL presently operates 2 mini hydro power plants and is in the process of constructing 7 more.  Additionally FLCH will develop and construct another 4 mini hydro power plants. By 2014,  FLCH will contribute over 16 MW to the national grid.

FLCH is also in the process of constructing 2 boutique hotels on scenic locations on the plantations as well as constructing a commercial building in Colombo 08 with over 80,000 sq.ft. of rentable space.