High net worth investor exits Bogawantalawa

High net worth investor Dr. T. Senthilverl last week divested his entire shareholding in Bogawantalawa Tea Estates PLC (BOPL) for Rs. 93 million.He had sold 11.1 percent of the shares or 9.3 million shares in BOPL last Thursday for a consideration of Rs.10 per share.The shares were bought by the Bogawantatalawa parent, Metropolitan Resources Holdings PLC.
Dr. Senthilverl had entered into the tea industry by purchasing 13.5 percent stake in BOPL in February 2011 for Rs. 231.6 million.

His highest shareholding was recorded during the third quarter in 2014, where he had held 14.45 percent of the shares.
BOPL was able to narrow its net loss to Rs. 4.3 million for the third quarter ended December 31, 2016, from Rs.15.88 million Year-on-Year (YoY), while for the 9 months so far in the financial year BOPL posted a net profit of Rs. 14.33 million, down from Rs.76.98 million YoY.