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Alliance Finance sells over 19% shares of Arpico Finance to Associated Motor Finance

Alliance Finance Company PLC sold 1,452,878 shares (19.53 percent) of Arpico Finance Company PLC to Associated Motor Finance PLC at Rs. 166 per share today. This share transaction was done under the Central Bank’s Financial Sector Consolidation Programme.

(0)Comments | October 2, 2014 3:33 pm

Central Bank rejects all bids at today’s Treasury Bill auction

The Central Bank of Sri Lanka (CBSL) decided to reject all bids received at the Treasury Bills auction today (01 October). The Public Debt Department of the CBSL states that the bank issued Rs. 1.5 billion worth 06 Month Treasury Bills and Rs. 4.5 billion worth 12 Month Treasury Bills for auction for this week….

(0)Comments | October 1, 2014 4:58 pm

Stock Market Review – 01st Oct 2014

Colombo equities strengthen the gains on Wednesday as both indices closed with notable returns. Main index gained 40.94 points or 0.56% to end at 7,293.08 while S&P SL20 index gained 26.81 points or 0.66% to end at 4,065.11. The gains were led by the price progression in counters such as Dialog Axiata (closed at LKR…

(0)Comments | October 1, 2014 4:55 pm

Nation Lanka Capital shares divested to Protege Investment

The board of directors of Nation Lanka Finance PLC have decided to divest its entire shareholding of three million ordinary shares representing 75 percent of shares at Rs. 10.50 each, totaling Rs. 31,500,000 of its subsidiary Nation Lanka Capital (Private) Limited to Protege Investment (Private) Limited of Colombo 7.

(0)Comments | October 1, 2014 11:59 am

Associated Motor Finance increases stake in Arpico Finance Company

Associated Motor Finance Company PLC has bought 3,018,617 shares of Arpico Finance Company PLC at Rs. 66 per share. This is approximately 40.59 percent the total number of shares in issue in Arpico Finance Company. With Associated Motor Finance Company already holding 55,000 shares in Arpico Finance, the current purchase increases its stake to 3,073,617…

(0)Comments | October 1, 2014 11:46 am

What is Nimal Perera up to after buying tea brokering company?

After gaining the controlling stake of the tea brokering company Mercantile Produce Brokers Ltd (MPB) for Rs. 200 million, prominent investor, Pan Asia Bank Chairman and Managing Director of Royal Ceramics Nimal Perera says that it has been decided to market the tea produced by the Talawakelle and Kelani Valley Plantations belonging to the Hayleys…

(0)Comments | October 1, 2014 10:49 am

Colombo City Holdings sells Bambalapitiya property

Colombo City Holdings PLC sold its property located at 740, Galle Road, Bambalapitiya in Colombo 04 for a sum of Rs. 206,625,000 on 29 September.

(0)Comments | October 1, 2014 10:26 am

Financial Sector Consolidation update – September 2014

During September 2014, the Monetary Board of the Central Bank of Sri Lanka approved in-principle another right (8) consolidation proposals submitted by banks and Non-Bank Financial Institutions (NBFIs) thus bringing the total number of proposals approved so far to 37. At the same time, consolidation plans of another four banks and four Non-Bank Financial Institutions…

(0)Comments | October 1, 2014 10:25 am

51% stake of Prime Grameen Micro Finance to HNB

Further to the announcement on 4 August 2014, the transfer of 51 percent stake of Prime Grameen Micro Finance Limited to Hatton National Bank PLC will take place on or before 31 October 2014. This will be after the necessary approvals of the regulators.

(0)Comments | October 1, 2014 10:12 am

Stock Market Review – 30th Sep 2014

Colombo bourse closed higher on Tuesday driven by gains in blue chips amid notable net foreign outflow. Core index bagged 13.98 index points or 0.19% to close at 7,252.14 while 20-scrip S&P SL index gained 19.30 index points or 0.48% to end at 4,038.30. Price increases in counters such as John Keells Holdings (closed at…

(0)Comments | September 30, 2014 5:59 pm

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