Expolanka Holdings: Largest listed company decides to de-list from CSE

Expolanka Holdings: Largest listed company decides to de-list from CSE

March 1, 2024   04:19 pm

Expolanka Holdings PLC has decided to de-list the company’s shares from the Official List of the Colombo Stock Exchange (CSE).

According to market capitalization, it is the largest listed company in the Colombo stock market.

The decision was reached at the meeting of Expolanka Holdings’ Board of Directors on Friday (March 01), after considering a request from its principal shareholder SG Holdings Global Pte. Ltd.

Accordingly, the Board of Directors has resolved to initiate the de-listing of the company’s shares from the Official List of the CSE, subject to obtaining necessary shareholder approval and regulatory approvals.

The Board of Directors has thus made arrangements with SG Holdings to purchase its shares from the shareholders who may wish to divest their shareholding in the company at a purchase price of Rs. 185.00 per share.

Speaking in this regard, Mr. Hanif Yusoof, Director Expolanka Holdings PLC said: “We would like to thank our valued shareholders for their continued confidence in the Board and for the constant support extended to the Company over several years. We are confident that this proposal is in the best interest of our shareholders which provides an attractive and fair premium which will enable our minority shareholders to unlock value. The Company will continue to comply with Sri Lanka’s statutory reporting and compliance requirements and focus on delivering on its promise to the Country and its people. As previously, post-delisting, the Company will continue to navigate market complexities in a fast-revolving business environment while continuing to drive sustainable growth as it strives to gain market share as one of the top-tier logistics companies in the world.”

Expolanka Holdings is a globally acclaimed conglomerate based in Sri Lanka, known for its diversified presence in four pivotal sectors: logistics, leisure, IT, and food.

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