Nestlé Lanka set to become 107th entity to delist from CSE

Nestlé Lanka PLC is set to become 107th public entity to delist from the Colombo Stock Exchange (CSE) following the multinational’s announcement last week to go private ending the 40-year stint as a publicly listed company.

In a stock exchange filing last week, Nestle Lanka announced that arrangements had been made with the Nestlé Lanka parent, Nestlé S.A., to purchase the shares from the shareholders, who may wish to divest their shareholding in the company at a price of Rs.1, 500 per share. 
The Nestlé Lanka share last traded at Rs.1,120.25.

Nestlé S.A. owns 91.95 percent of the issued shares of Nestlé Lanka and the company’s public holding is 8.05 percent, distributed among 6,054 shareholders.
Prior to the delisting announcement, Nestlé Lanka was among the top 15 largest public companies listed in CSE in terms of market capitalisation, with an over Rs.60 billion market cap.

Over the years, 106 entities have been delisted from CSE including large multinationals such as Coca Cola.
In addition, trade remains suspended for 9 entities on the CSE. As of 31st of March this year, CSE had 289 companies representing 19 GICS industry groups with a market capitalisation of Rs.3,903.53 billion.