LOLC Investments Ltd. today sold its entire stake in the brush maker BPPL Holdings in Rs.1.28 billion deal.
The shares were believed to have bought by Kalsha Amarasinghe, the wife of BPPL Majority shareholder (via Infinity Capital) and Managing Director Anush Amarasinghe and the sister of LOLC Group Deputy Chairman Ishara Nanayakkara.
The shares were bought at Rs.16 per share.
As at September 30, 2020, LOLC Investments held 80.5 million BPPL Shares, which constituted to 26.25 percent of the issued shares of the company.
BBPL Holdings parent Infinity Capital (Pvt) Ltd. owns 50.31 percent of the company.
Kalsha Amarasinghe is also an Executive Director of LOLC Holdings PLC and has a 5 percent stake in the company.