Browns Investments ups stake in Taprobane Holdings to 20% with Rs. 190.2 m buy
Friday, 24 January 2014 00:57
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Browns Investments Plc has increased its stake in Taprobane Holdings Plc to 20% with the purchase of Rs. 190.2 million shares or 6.3%.
Browns Investments Plc is controlled by Brown and Company (37%), ERI/Lanka Century Investments (20%) and LOLC Investments (13%).
Among sellers were related party Ishara Nanayakkara who disclosed that he shed 53 million shares of Taprobane Holdings Plc.
As of September 2013, ARRC Capital Ltd. held a 39.7% stake in Taprobane Holdings Plc and Ishara held 36.34%.
Taprobane has interests in investment, stock broking, corporate finance, money broking, margin trading, leisure management and plantation. It will be now treated as an associate of Browns Investments which too has interests in investments, tea and rubber plantation, hydro power, leisure, porcelain, and construction.
