Ceylon Cold Stores goes for 1 into 10 share subdivision

Ceylon Cold Stores PLC (CCS) yesterday announced a share subdivision on the basis of one into 10 to boost the number of shares without a corresponding increase in the stated capital. 

At present, CCS had 95.04 million shares in issue, and post-subdivision, it will increase to 950.4 million.

The move is subject to shareholder approval at an EGM. The public float of CCS is 18.56% held by 2,264 shareholders.

The CCS share yesterday closed at Rs. 525.75, down by 50 cents.