By Ishara Gamage
To be amalgamated with Arpico Finance Ltd
Ceylon Finance Today: Richard Pieris Group's Arpico Finance Ltd's stake in Chilaw Finance PLC reached over 90 percent at the end of trading yesterday, allowing the company to delist it from the Colombo Stock Exchange, a company official said. Yesterday, Richard Pieris owned Arpico Finance Ltd has further bought over one million shares of Chilaw Finance PLC via the stock market. Price paid was between Rs. 25.40 to 26.60 per share.
We will delist soon & amalgamation with Richard Pieris Arpico Finance Ltd, the Chilaw Finance PLC official said.
Last August, Richard Pieris Group has bought 51% control of Chilaw Finance PLC, via subsidiary Richard Pieris Arpico Finance Ltd., as part of the Central Bank-initiated financial sector consolidation. Price paid was around Rs. 25.50 per share.
Chilaw Finance PLC Net Asset Per share is Rs. 15.43. Chilaw Finance is a relatively small finance company with assets worth Rs. 1.3 billion and liabilities of Rs. 796 million.
Richard Pieris Arpico Finance recently reached the milestone of Rs. 1 billion in deposits and said it is planning at least five branches within the next four to five months with the first one in Matara.
www.ceylontoday.lk
To be amalgamated with Arpico Finance Ltd
Ceylon Finance Today: Richard Pieris Group's Arpico Finance Ltd's stake in Chilaw Finance PLC reached over 90 percent at the end of trading yesterday, allowing the company to delist it from the Colombo Stock Exchange, a company official said. Yesterday, Richard Pieris owned Arpico Finance Ltd has further bought over one million shares of Chilaw Finance PLC via the stock market. Price paid was between Rs. 25.40 to 26.60 per share.
We will delist soon & amalgamation with Richard Pieris Arpico Finance Ltd, the Chilaw Finance PLC official said.
Last August, Richard Pieris Group has bought 51% control of Chilaw Finance PLC, via subsidiary Richard Pieris Arpico Finance Ltd., as part of the Central Bank-initiated financial sector consolidation. Price paid was around Rs. 25.50 per share.
Chilaw Finance PLC Net Asset Per share is Rs. 15.43. Chilaw Finance is a relatively small finance company with assets worth Rs. 1.3 billion and liabilities of Rs. 796 million.
Richard Pieris Arpico Finance recently reached the milestone of Rs. 1 billion in deposits and said it is planning at least five branches within the next four to five months with the first one in Matara.
www.ceylontoday.lk
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