Reply to thread

Message: <blockquote data-quote="sherlock" data-source="post: 11021851" data-attributes="member: 106046">Gulf East Finance makes mandatory offer to buy Singalanka shares Gulf East Finance Limited who has the controlling stake of Singalanka Standard Chemicals PLC has made an offer to buy the rest of the shares of the firm.  Accordingly, the company announced yesterday that it is ready to purchase the remaining 2,256,828 shares at a price of Rs. 55 per share.  This amount constitutes a stake of 40.73% of Singalanka.  As of now Gulf East Finance Limited holds a 59.27% stake in Singalanka Standard Chemicals.  The mandatory offer comes following the Gulf East Finance purchased a share amount of 2,668,225 shares of Singalanka Standard Chemicals from the recently completed Rights Issue.  With this purchase, the Gulf East Finance shares in the Singalanka went up to 59.27% from the earlier stake of 44.45%.  Gulf East Finance which has its business registered in British Virgin Islands is engaged in the carrying out investment and finance business.<a href="http://www.news360.lk/category/markets/stock-market/feed" target="_blank">http://www.news360.lk/category/markets/stock-market/feed</a></blockquote>

Top Bottom