Alpha Fire sees 58% ownership shift

A controlling stake in Alpha Fire Services PLC has changed hands, following the sale of over 58 percent of the company’s capital, according to a stock exchange filing yesterday.

The transaction saw the sale of 22,153,538 shares, with the majority acquired by three private firms: Arcasia Investment and Trading (Pvt.) Ltd and ATX Partners (Pvt.) Ltd, each purchasing 9,492,610 shares and JBJ Holdings, which acquired 3,149,850 shares. An additional 18,468 shares were bought on the open market.

All shares were transacted at a consideration of Rs.10 per share, generating a transaction value of Rs.212.76 million.

The share price of Alpha Fire Services PLC appreciated by Rs.2.60 (24.76 percent), to close at Rs.13.10.

The disclosure was made in line with Section 8 of the Colombo Stock Exchange Listing Rules.