RIL Property’s public float jumps to nearly 100% after director’s exit

RIL Property PLC said its public shareholding surged to 99.95 percent as of September 30, following the resignation of former Director L.E.M. Yaseen.

The company said in a stock exchange filing that Yaseen’s departure, along with the reclassification of shares held by her immediate family members and related parties, led to a 55.8 percentage point increase in the public holding, from 44.14 percent recorded at end-June.

The change means nearly all of RIL Property’s shares are now classified as publicly held, the company added.