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Sri Lanka’s Metropolitan Resource to delist, offers Rs28 a share

Dec 31, 2015 16:58 PM GMT+0530 | 1 Comment(s)

ECONOMYNEXT – Metropolitan Resource Holdings, which owns a Sri Lankan listed plantations firm, said it plans to delist its shares from the Colombo Stock Exchange offering to pay 28 rupees for a share which last traded at 28.50 rupees.

A stock exchanging filing said the only asset of Metropolitan Resource Holdings is its 67 percent stake in Bogawantala Plantations PLC, which grows and exports tea.

Metropolitan Resource Holdings shares have had low liquidity in recent years “as a result of which there is a strong possibility of the price of a share to be manipulated, thereby distorting its real value,” the statement said. (Colombo/December 31, 2015)
 


 

1 Comments

  1. Observer January 01, 06:09 AM

    De listing EGM could be interesting. Metropolitan Resource Holdings MPRH officially has a freefloat of 21 and 772 shareholders as at Sept 2015. Its book value was Rs48 per share, and 6month EPS was Rs2.5

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