Commercial Credit acquires Trade Finance & Investments

04 Aug 2014 - {{hitsCtrl.values.hits}}

Commercial Credit & Finance PLC has acquired the control of Trade Finance & Investment PLC, a company controlled by the Cooray family, owners of Jetwing Group.

Several blocks of Trade Finance shares traded in the morning hours, each share at Rs.28.

The Cooray family owned over 75 stake of the company as of the March, 2014 interim financial accounts of the company.

The net asset per share of Trade Finance stood at Rs.13.94. The asset base was Rs.1.6 billion.

It is believed that the two largest private banks, Commercial Bank PLC and Hatton National Bank PLC were also interested in acquiring the control of Trade Finance.

Incorporated in 1978, Trade Finance was listed in the Colombo Stock Exchange in 2011.

Stock

Commercial Credit acquires Trade Finance & Investments

Most Popular Articles

Browns Investments completes acquisition of shares in Lipton Teas and Infusions Tanzania Limited

Auction yields slump for third consecutive week

ASPI crosses the 15,000 mark for the first time

November merchandise exports slide 5.6% YoY while services sector expands 21%

LATES'T NEWS

India’s former PM Manmohan Singh dies aged 92

Pacers prosper in 13-wicket day in Centurion

President Dissanayake expresses interest in joining BRICS

Sri Lanka shaped Blue Sapphire found

Final respects to Priya...