Expolanka gets control in Pakistan, Vietnam ventures

Expolanka Holdings Plc has invested nearly Rs. 60 million or US$ 0.55 million afresh in two of its ventures in Vietnam and Pakistan thereby getting control in both.

The Company said it upped its existing stake in Expolanka Freight (Viet Nam) from 42.5% to 51% for a sum of US$ 0.28 million and invested $ 0.25 million to increase its stake in Expolanka Pakistan Ltd., from 25% to 51%.

The two ventures are part of its global footprint spanning 12 countries involving 47 companies in key business sectors of transportation, international trading, manufacturing and strategic investments.

The other countries in which it has investments or operations include India, Bangladesh, UAE, South Africa, Madagascar, Kenya, Mauritius, Indonesia and the Philippines.

Expolanka Holdings listed 172 million ordinary shares at Rs. 14 through an initial public offering in May.

The share closed up 30 cents at Rs. 11.20 when 387,300 shares traded yesterday.