SLIC exits Tess Agro with 12% stake sale

19 April 2016 10:28 am - 0     - {{hitsCtrl.values.hits}}

A A A

State-owned Sri Lanka Insurance Corporation (SLIC) yesterday sold its entire 12.14 percent stake in Tess Agro PLC, a fish exporter, in a deal worth Rs.57.7 million. As at December 31, 2015, as the second single largest shareholder, SLIC held 33.99 million shares of Tess Agro PLC. The shares were divested at Rs.1.70 each.

A stock market filing said the buyer of the shares was an individual named K.Gajanthan. These Tess Agro shares were bought by SLIC in 2011, when it bought a 16 percent stake in the company. At the end of the day’s trading, 37.19 million Tess Agro shares had traded. For the nine months ended December 31, 2015, Tess Agro narrowed its net loss to Rs.2.72 million from Rs.33.27 million reported for the same period of the previous year.

  Comments - 0


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




‘I’m scared to see her face’

On August 13, a woman happened to meet a child who was in desperate need of h

Kidneys that whisper death

A flute version of Beethoven’s ‘Für Elise’ was echoing from a distance

Burning Panamanian tanker leaves SL authorities gutted

Weeks after MV Wakashio, a Japanese-owned bulk carrier, ran aground a coral r

New Diamond on Fire

The fire has been contained, now where will the oil go?