Capital Alliance Finance to list through introduction

Thursday, 22 September 2011 00:00 - - {{hitsCtrl.values.hits}}

Capital Alliance Finance will be listing its shares on the Diri Savi Board through an introduction, the company said in a stock exchange filing yesterday.

It will list 33,920,282 ordinary voting shares. Capital Alliance Holding acquired a 99.9% stake in People’s Merchant Finance Company from the People’s Merchant Bank group for Rs.430 million.

The company’s main lines of business include leasing, hire purchase, trade finance and deposit mobilisation. Its operations are based in Kandy. Its total assets at the end of 2009/10 were Rs. 300 million and Profit before Tax in the financial year ending March 2010 was Rs. 8.7 million.