Kotmale Holdings control transfer boosts CSE turnover

Wednesday, 1 March 2017 00:00 - - {{hitsCtrl.values.hits}}

The inter-group transfer of nearly 99% stake of Kotmale Holdings Plc boosted the turnover at the Colombo Stock Exchange yesterday.

The market saw the transfer of 31 million shares of Kotmale for Rs. 1.94 billion (at Rs. 62.50 each), accounting for 80.5% of the day’s turnover.

Kotmale stakes held by Cargills Quality Foods Ltd. (94.07%) and Cargills (Ceylon) Plc (4.82%) were acquired by Cargills Quality Dairies Ltd.

Transfer apart, shares of Kotmale closed flat at Rs. 60.10.