29 December 2016 08:58 am
The trading of shares of Melstacorp Limited will commence from tomorrow, the Colombo Stock Exchange (CSE) yesterday said.
Accordingly, 1.16 billion Melstacorp ordinary voting shares under the security code MELS-N-0000 will be listed on the Main Board of the CSE. The shares will be classified under the ‘Diversified Holdings’ sector.
The CSE said deposits would be accepted by the Central Depository System with immediate effect.
The reference price earlier given for the Melstacorp share by independent analysts was Rs.69. The CSE approved the listing of Melstacorp shares by way of a share introduction.
Distilleries Company Sri Lanka PLC (DIST) this August announced the restructuring of the group to make Melstacorp Limited, a 100 percent-owned subsidiary of DIST at the time, the holding company, by way of a share swap, which offered four new shares of Melstacorp for each one share held in DIST, after which the new holding company would be floated.