Mon, 08 Mar 2021 Today's Paper

CHC Investment buys 31% stake in Taprobane Holdings

25 August 2015 03:12 am - 0     - {{hitsCtrl.values.hits}}

A A A

CHC Investment (Pvt.) Ltd, an investment vehicle owned by a consortium of investors, yesterday bought a 31 percent stake in Taprobane Holdings PLC. 
CHC Investment purchased 310.83 million shares at Rs.5.50 yesterday.

It is believed that CHC Investment is an entity jointly controlled by the Galle Face Hotel group’s Ceylon Hotels Corporation, textile giant Hirdaramani group and high-net-worth investor Ajith Devasurendra.

It remains to be seen whether the mandatory offer requirement of the Company Takeovers and Mergers Code will be triggered, as Devasurendra is the largest shareholder of Taprobane Holdings through his investment vehicle Arc Capital (Pvt.) Ltd, which owns 40.57 percent of the shares.

If a minority shareholder acquires over 30 percent of the shares or a shareholder with an ownership between 30 to 50 percent acquires over 2 percent of the shares in a listed entity, the requirement is triggered.

However, in this case, the market regulator would have to ascertain the exact ownership of CHC Investment to decide on a possible mandatory offer.  CHC Investment also holds a 9.5 percent stake in Pan Asia Banking Corporation PLC. The sellers of the shares were second largest shareholder of the company Ishara Nanayakkara and the fourth largest shareholder Pubudhu Rupasinghe. As at June 30, 2015, Nanayakkara and Rupasinghe held 225.9 million shares (22.53 percent) and 84.8 million shares (8.46 percent) of Taprobane Holdings, respectively. 

Taprobane Holdings owns a variety of subsidiaries engaging in money broking, stockbroking, corporate finance, margin trading, real estate and investment management. It is also branching out into the leisure sector.
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

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




Porn and Nudes: Delving into Cyber Exploitation in Sri Lanka

The images and videos are distressing. Non-consensual sharing of intimate ima

People at a loss as.... COVID vaccination programme hits a snag

The much awaited vaccination drive for Sri Lankan healthcare staff began on J

42 trees felled; Ambagamuwa PS Chairman - a law unto himself ! Unjust enrichment via natural resources

Ambagamuwa Pradesha Sabha (PS) Chairman Jayasanka Perera was allegedly accuse

The Man Behind Moves to Form the “BJP” in Sri Lanka

The flower bud is the accredited electoral symbol of the Sri Lanka Podujana P

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.