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

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)

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