NTB shareholders seek time to sell stakes

Two shareholders of Sri Lanka’s listed Nations Trust Bank have asked for more time to sell down their stakes to comply with a regulatory requirement, the firm said.

Sri Lankan conglomerate John Keells Holdings holds 29.9 percent of the company and Central Finance hold 20 percent of the company. Sri Lanka’s central bank has asked both shareholders to cut their stakes to 15 percent to comply with single shareholder rules.

The bank said in a stock exchange filing that both shareholders had written to the regulator asking for an extension of the deadline. (LBO)