East West Properties renounces decision to delist

 East West Properties PLC, whose majority shareholder is Nahil Wijesuriya, announced this week that it will not go ahead with its plans to de-list from the official list of the Colombo Stock Exchange (CSE).

In a fresh announcement to the CSE, East West Properties said the Board of Directors has decided to not proceed to delist the securities.

The reasons not to go through with the de-listing decision were not shared.

In July, the company said that arrangements have been made with Wijesuriya to purchase the shares from those wishing to divest, at a price of Rs.16.00 per share.