The government today expressed its interest to dispose its 39 percent stake in NIC to the highest bidder. The employees control 10 percent of the company.
quote s privatisation arm, the Public Enterprise Reform Commission, has called for Expressions of Interest to be submitted by April 8.
rnrnJanashakthi picked up NIC
quote s 51 percent stake last June for Rs. 450 mn, after beating off Hatton National Bank through a stiff bidding process.
rnrnldblquote We have already made a bid for the remaining stake since all bidders were asked to submit bids for both 90 percent and 51percent stake of NIC at the privatisation last year
dblquote , Janashakthi
quote s Managing Director, Chandra Schaffter told Lanka Business Online.
rnrnHowever, the government decided to divest only 51 percent at that stage.
rnrnldblquote We are still interested in the remaining stake
dblquote , Schaffter added.
rnrnNIC currently has a 5 percent market share in the domestic insurance industry and re