CSE News Updates

Global PE giant Blackstone with $ 620 b in assets enters Sri Lanka

# In landmark deal via Indian entity 56.45% of Piramal Glass Ceylon sold for Rs. 6.2 b
# Move part of broader acquisition of Indian container glass packaging firm for $ 1 b announced in mid-December
# Mandatory offer announced at Rs. 11.60 per share
# Confidence by private equity firm augurs well for SL, say analysts
# Asia Securities Group figures in the deal as buy-side advisor and executing stockbroker
# Sole glass bottle manufacturer Piramal Ceylon Glass doubled first 9 months after tax profit to Rs. 694 m
# Boosts prospects for exports with new product launches in 3Q

Read more at - http://www.ft.lk/front-page/Global-PE-giant-Blackstone-with-620-b-in-assets-enters-Sri-Lanka/44-715652

JKH makes formal disclosure to CSE on WCT

Premier blue chip John Keells Holdings PLC (JKH) yesterday made a formal disclosure to the Colombo Stock Exchange (CSE) on the proposed West Container Terminal (WCT) of the Colombo Port.

It said that a consortium consisting of Adani Ports and Special Economic Zone Ltd., and JKH have received a Letter of Intent from the Ministry of Ports and Shipping and the Sri Lanka Ports Authority, acting on behalf of the Government of Sri Lanka, to develop and operate the WCT in the Port of Colombo as a public private partnership project pursuant to the approval granted by the Cabinet of Ministers.

The WCT is part of Colombo's south port development. WCT is a deep-water terminal with an alongside depth of 20 metres and annual capacity of approximately three million TEUs.

“A concession agreement is expected to be executed in due course. JKH will have a material equity stake in the project,” the Company said in its disclosure.

It added that further details of the operating and structuring arrangements will be announced to the CSE as and when required.

Prabhash Subasinghe becomes 2nd largest shareholder at Sampath Bank

# Doubles stake to 10% via investment arm Ayenka Holdings since December 2020

# Recent quantities collected for over Rs. 2.6 b with average price of Rs. 150 per share

# Sampath Bank stake in addition to near 30% holding in Ceylinco Insurance and 15% in SDB bank

# Foreigners have been net sellers of 30 million shares worth Rs. 5 b Sampath Bank since late January

Read more at - http://www.ft.lk/front-page/Prabhash-Subasinghe-becomes-2nd-largest-shareholder-at-Sampath-Bank/44-714205

CSE reassures brokers, investors

Says recent Circular has not placed any restrictions on stockbroker firms to extend credit on any particular security, nor any limitations of any kind on the tradability of any security by any investor

Reiterates it welcomes recent heightened activity levels of stock market

Read more at - http://www.ft.lk/front-page/CSE-reassures-brokers-investors/44-712664