PCH buys Orient Garments
Indunil Hewage
|
S H M Rishan |
The Finco Group has sold its 51 percent controlling stake in Orient
Garments Limited to PCH Holdings, which is an unlisted subsidiary of PCH
for Rs 600 million.
PCH Chairman S H M Rishan told Daily News Business that a 51 percent
controlling stake made up of 28.5 million shares was sold at Rs 21.50.
PCH Holdings has bought 12 million shares and the remaining shares
have been bought by its Chairman S H M Rishan.
"We are hoping to announce the new board members in the coming two
days and there will not be a change in the director board of Orient
Garments Limited despite its acquisition," he said.
According to Rishan, at present, Finco Group has 20 percent stake in
Orient Garments. |
