Akbar Brothers (Pvt) Ltd., Sri Lanka’s biggest tea exporter, has upped its stake of Alumex PLC, a Hayleys subsidiary, to 13.44% from the 9.86% it previously held, Akbar Brothers said in a stock exchange filing.
The increased shareholding was accomplished by Akbar purchasing Alumex shares of 5,357,200 shares each personally held by two of their directors, Messrs. A Akbarally and I. Akbarally at Rs. 17 a share, close to the high of Rs. 17.70 a share achieved in the financial year ended March 31, 2015.
The increased shareholding was accomplished by Akbar purchasing Alumex shares of 5,357,200 shares each personally held by two of their directors, Messrs. A Akbarally and I. Akbarally at Rs. 17 a share, close to the high of Rs. 17.70 a share achieved in the financial year ended March 31, 2015.
Hayleys own 51% of Alumex and Hayleys Chairman A.M. Pandithage is chairman of the company in which Akbar held one board seat.
Last week’s acquisition by Akbar Brothers made it the second larges shareholder of Alumex displacing the Hirdaramani connected Rosewood (Pvt) Ltd.
www.island.lk
Last week’s acquisition by Akbar Brothers made it the second larges shareholder of Alumex displacing the Hirdaramani connected Rosewood (Pvt) Ltd.
www.island.lk
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