People’s Bank buys more into PLC

Monday, 28 January 2013 00:00 - - {{hitsCtrl.values.hits}}

Peoples Bank is estimated to have bought a further stake in its subsidiary People’s Leasing Plc last week.

The biggest leasing company saw 9.7 million of its shares or mere 0.5% stake traded for Rs. 163 million.

Of the quantity, the parent had bought majority for around Rs. 100 million including the biggest block of five million shares, with the seller being Ceylon Guardian. As at September 2012, People’s Bank held a 75% stake in PLC.