Ambeon to bring financial services biz under one vertical

Tuesday, 4 April 2023 00:30 - - {{hitsCtrl.values.hits}}

Ambeon Capital PLC is to bring the Group’s financial services business under one vertical.

Last week Ambeon transferred the entirety of the shares held in Sherwood Capital Ltd., to Taprobane Capital Plus Ltd., a wholly owned subsidiary of Ambeon Holdings PLC for Rs. 190 million.

Ambeon said this decision was made by the Board of Directors in pursuance of a proposal to restructure the ownership of the financial services business in the Group with a view to streamlining the group structure whilst bringing all financial services companies under one vertical.

This investment of 60% stake in Sherwood Capital Ltd., was made by Ambeon in May 2022 for Rs. 180 million.

Sherwood Capital Ltd. is engaged in the business of trading in equities and fixed income instruments either issued or guaranteed by a company constituted in Sri Lanka or by the Government of Sri Lanka.