Nations Lanka Equities bought by Asanga Seneviratne

ECONOMYNEXT – Nations Lanka Finance Plc said a 58.56 percent stake in a stockbroking company it holds will be sold to Asanga Seneviratne, a veteran in Sri Lanka’s capital markets, for Rs160 million.

Senevirante was also a director of Nation Lanka Finance.

He will pay Rs100 million out of the Rs160 million in a year. A 25 percent of the total proceeds will be paid if the Colombo Stock Exchange is de-mutualised.

The stockbroking firm is a ‘full member’ of the Colombo Stock Exchange, which can potentially own a part of the bourse in the future if it is de-mutualised and made into a limited company.

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