Stock market news

LOLC buys Tropical Leisure

LOLC Leisure Ltd (Leisure) has bought a 40% stake of the stated capital of Tropical Villas (Pvt) Ltd (TVL) from Carbotels (Pvt) Ltd at a cost of Rs 165 million.

As Leisure already held 60% of the equity of TVL (bought in August 2010), with this purchase Leisure now holds the entire stated capital of TVL.

Leisure is a company within the LOLC Group, as 70 percent of its stated shares is held by Lanka ORIX Leasing Company PLC, a Colombo Stock Exchange statement said.

People's Leasing share issue

The People's leasing Company Limited offered a subscription of Rs 7,020,000,720. The Colombo Stock Exchange has approved in principal an application for listing the ordinary voting share of the company or a main board listing. They have been offered for subscription of 390,000,040 ordinary voting share at a price of Rs 18.

Richard Pieris purchase

The Richard Pieris Group Services Private Limited purchased 51,500 shares of Kegalle Plantation PLC with the value of Rs 7,551,137.