Chevron goes for share sub division

Chevron Lubricants Lanka (LLUB) yesterday announced a subdivision of its shares on the basis of 1 into 2.

The move resolved by the Board of Directors will increase the shares in issue to 240 million from 120 million at present.

The sub division is subject to shareholder approval. Trading XD, Chevron shares yesterday closed at Rs. 313.60, up by 60 cents after they hit an intra-day high of Rs. 319.90.

Chevron is ranked 15th in terms of market capitalisation with its figure of Rs. 37.6 billion accounting for 1.47% of the total.