Largest shareholder sheds 10% stake in Textured Jersey for Rs. 1.7b

Monday, 6 July 2015 00:00 - - {{hitsCtrl.values.hits}}

Pacific Textured Jersey Holdings Ltd., the largest shareholder in Textured Jersey Plc (TJL), has shed 10% stake in the company from original holding of 39.65%.

On Friday it sold 66.07 million shares in TJL for Rs. 1.77 billion or Rs. 26.80 per share.

Around 75% of the 10% stake has been acquired by foreign institutional investors and the balance by locals. Brandix Lanka Ltd. holds 29.81% stake in TJL.

The company also announced that it has concluded the acquisition of Quenby Lanka Prints Ltd. for $ 3.5 million, making it a wholly-owned subsidiary.