Reply To:
Name - Reply Comment
Last Updated : 2024-05-08 21:21:00
The state-run pension fund, insurance company and banks have been given the green light to buy the shares of Sri Lanka Telecom PLC (SLT), of which the government has a little over 54 percent stake, to comply with the 10 percent minimum public free-float requirement.
A joint Cabinet paper to this end by Finance Minister Mangala Samaraweera and Telecommunication, Foreign Employment and Sports Minister Harin Fernando was approved by the Cabinet of Ministers this week.
The Employees’ Provident Fund (EPF), Sri Lanka Insurance Corporation (SLIC), National Savings Bank (NSB), Bank of Ceylon (BOC) and People’s Bank can now buy SLT shares, subject to the approval of their respective director boards.
The Treasury Secretary has a 49.5 percent stake in SLT, while Global Telecommunications Holdings NV, a unit of Malaysia’s Maxis, has 44.98 percent.
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
US authorities are currently reviewing the manifest of every cargo aboard MV
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul
07 May 2024 - 2 - 1592
06 May 2024 - 4 - 1303