By Mario Andree
NDB Capital Holdings, a subsidiary of National Development Bank, has announced its intention to delist from the Colombo Stock Exchange following seven other listed corporates who previously filed delisting due to the intervention by the Securities and Exchange Commission in introducing the minimum public float.
National Development Bank, the majority shareholder of the company has made arrangements to buy back shares, last traded at Rs 496.40, from minority shareholders at Rs 600 per share.
NDB Capital Holdings for the first three months ended 31 March this year reported a profit of Rs 181,605, down 39% from Rs 296,783 a year earlier. The total comprehensive income of the company declined 38% to Rs 182,605 from Rs 296,783. Earnings per share dropped 25% to Rs 5.52 from Rs 7.38.
The de-listing of NDB Capital Holdings is the fifth announcement, totalling the number of de-listings to eight.
Two companies so far have received necessary shareholder and regulatory approvals for the purpose.
Kuruwita Textiles, Beruwala Walk Inn, Asiri Central Hospital, Shalimar (Malay) PLC, Selinsing PLC, Good Hope PLC and Indo-Malay PLC announced de-listing earlier this year.
Majority of shareholders of Kuruwita Textiles and Asiri Central Hospital had agreed to de-list from the Colombo Stock Exchange and approved the offer price by each individual holding company.
Ceylon FT on 20 January 2014 reported that many corporates queried how to de-list from the stock exchange when the securities market's watchdog introduced the minimum public float requirement to be listed.
www.ceylontoday.lk
NDB Capital Holdings, a subsidiary of National Development Bank, has announced its intention to delist from the Colombo Stock Exchange following seven other listed corporates who previously filed delisting due to the intervention by the Securities and Exchange Commission in introducing the minimum public float.
National Development Bank, the majority shareholder of the company has made arrangements to buy back shares, last traded at Rs 496.40, from minority shareholders at Rs 600 per share.
NDB Capital Holdings for the first three months ended 31 March this year reported a profit of Rs 181,605, down 39% from Rs 296,783 a year earlier. The total comprehensive income of the company declined 38% to Rs 182,605 from Rs 296,783. Earnings per share dropped 25% to Rs 5.52 from Rs 7.38.
The de-listing of NDB Capital Holdings is the fifth announcement, totalling the number of de-listings to eight.
Two companies so far have received necessary shareholder and regulatory approvals for the purpose.
Kuruwita Textiles, Beruwala Walk Inn, Asiri Central Hospital, Shalimar (Malay) PLC, Selinsing PLC, Good Hope PLC and Indo-Malay PLC announced de-listing earlier this year.
Majority of shareholders of Kuruwita Textiles and Asiri Central Hospital had agreed to de-list from the Colombo Stock Exchange and approved the offer price by each individual holding company.
Ceylon FT on 20 January 2014 reported that many corporates queried how to de-list from the stock exchange when the securities market's watchdog introduced the minimum public float requirement to be listed.
www.ceylontoday.lk
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