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Sri Lanka Royal Ceramic sells commodity broker
07 Mar, 2013 07:09:52
Mar 07, 2013 (LBO) - Sri Lanka's Royal Ceramics Plc, a tile and sanitary ware group said it sold 12.75 percent of its 51 percent stake in Asia Siyake Commodities Plc, a tea broker, to Lanka Commodity Brokers Ltd.
The firm had said earlier that it was selling the 51 percent stake for 371 million rupees or 2.80 rupees per share in two stages under 'lock-in' rules specified by the regulator.
The first tranche would be sold after March 04 and the second tranche after June 11.
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