HNB confirms share split discussed at Board but no decision yet

Monday, 27 January 2025 02:28 - - {{hitsCtrl.values.hits}}

Hatton National Bank on Friday clarified that no decision has been made yet by the Board of Directors to approve a share split.

However the Bank admitted that there have been preliminary discussions about the possibility of a share split.

HNB made this disclosure to the Colombo Stock Exchange in response to a Daily FT article which referred to rumours of share split boosting HNB voting share price in recent weeks.

The voting share peaked to an all-time high of Rs. 360.50 on Thursday, 23 January from Rs. 319.75 as at the end of 2024. See graphic to understand how the voting share price has moved up by 100% since March last year.

The public float of voting shares of HNB is 69% held by 8,450 shareholders as opposed to 7,501 shareholders a year ago.