Ceylon Beverage Holdings denies possessing price-sensitive information amid unusual trading activity

Ceylon Beverage Holdings PLC, the immediate parent company of Lion Brewery (Ceylon) PLC, has denied possessing any unpublished price-sensitive information following an inquiry by the Colombo Stock Exchange (CSE).

On December 12, 2024, the share price of Ceylon Beverage Holdings PLC surged by 27.47 percent, or Rs. 782.50, closing at Rs. 3,630.75 per share.

In response to this significant price movement, the CSE sought clarification from the company regarding the unusual trading activity. “We write with reference to your letter dated 12th December 2024 seeking clarification pertaining to the unusual trading activity in the securities of the Company on 12th December 2024. We wish to confirm that Ceylon Beverage Holdings PLC currently does not have any unpublished price-sensitive information to disclose,” the company stated in its response. 

The company further highlighted that the trading volume on the day in question—380 shares—represented just 0.0018 percent of its total issued shares, which amounts to 20,988,090 ordinary shares.

“Regarding the price variation of BREW.N0000, we wish to inform that the company is unaware of any reasons for the price variations,” it added.

Lion Brewery (Ceylon) PLC, the leader in Sri Lanka’s brewery market, early this month unveiled a Rs.4 billion state-of-the-art craft beer innovation centre, primarily targeting exports.

The company has also reportedly initiated discussions with UK-based Diageo Plc to produce international spirit brands under license in a bid to expand into the hard-liquor segment. (NF)