Corporate Capital Market buys controlling stake in SMB Money Brokers

Friday, 3 May 2024 00:02 - - {{hitsCtrl.values.hits}}

Corporate Capital Market Ltd. (CAPM) has entered into a share purchase agreement to acquire 50.99% shares of SMB Money Brokers (MBR) from SMB Finance PLC, which will further consolidate its market presence.

This strategic move has resulted in SMB Money Brokers Ltd., becoming a fully owned subsidiary of CAPM.

MBR incorporated in 1995, is one out of the nine money broking institutions licensed by the Monetary Board of the Central Bank of Sri Lanka and has been a key player in the industry. MBR, which specialises in brokering activities related to money, foreign exchange, and Government securities, has established itself as a trusted entity in the market, a statement from the company said.