Expolanka divests two subsidiaries

5:30 PM // 0 comments // Unknown // Category: news Expolanka Holdings Private Limited, which is going to the be newest Initial Public Offering in the Colombo Stock Exchange, has divested investments of two of its subsidiaries, according to the IPO prospectus released by the company.


The two companies of the group disposed completely were Expolanka Aviation and Denshun Industries. The subsidiary sale has earned a capital gain amounting to Rs.313 million.

Prior to the proposed IPO, the company also underwent a sell down ‘to broad base the ownership structure’, according to the prospectus.

Expolanka Holdings Limited in its prospectus said that the company will utilize proceedings of the Initial Public Offerings (IPO) to fund group investments, reduce outstanding debts and increase working capital of the group.

The firm also expects to utilize Rs. 500 million, to expand the existing warehouse capacity to supplement the Group’s expansion into the local Transport and Logistics sector.

source - www.dailymirror.lk