NDB makes Rs. 600 per share buy-back offer on NDB Capital
Wednesday, 25 June 2014 00:00
-
- {{hitsCtrl.values.hits}}
Parent NDB has announced a share buy-back offer on NDB Capital Holdings Plc (NDBCH) at Rs. 600 each prior to delisting the subsidiary from the Colombo Stock Exchange.
NDB owns a 99.62% stake in NDBCH, of which the number of shares in issue is 32.904 million. The total offer is worth Rs. 76 million. NDB said the offer price of Rs. 600 was a fair price. The move is subject to shareholder and regulatory approval.
Net asset value per share of NDBCH at Company level is Rs. 170.24 as at 31 March 2014 was, up from Rs. 160.17 a year ago. At Group level it was Rs. 176.90. In the first quarter highest traded price of NDBCH was Rs. 550 and the lowest was Rs. 485 before closing at Rs. 535.
NDBCH has 339 shareholders of whom 309 own between one and 1,00 shares with a total of 34,622 shares or just 0.10% and a further 28 holding a collective 80,864 shares or 0.25%. There are 316 individual shareholders holding 113,176 shares.
The market value of ordinary shares on 31 December 2013 was Rs. 490 per share. The highest traded price in 2013 was Rs. 550 and the lowest was Rs. 400.
In 2013, NDBCH paid a Rs. 16.40 dividend per share or 164% following extraordinary capital gains from the sale of its stake in Aviva NDB Insurance. In the preceding past five years the dividend per share had ranged between a high of Rs. 4.10 and a low of Rs. 1.25.
