Monday, October 25, 2010

Sri Lanka LB Finance slice transferred to investment firm

Oct 25, 2010 (LBO) - A 51 percent stake in Sri Lanka's LB Finance was transferred to Vallibel One, investment holding company, the firm's main shareholder Dhammika Perera said.

Perera owned 71 percent of the firm in his own name before the transfer via two accounts.

"It was an internal transfer," Perera told LBO.

Royal Ceramics, which is also a part of Perera's Vallibel group owned another 3.39 percent stake in LB Finance.

Monday's trade, at 300 rupees a share, pushed up turnover by 5.3 billion rupee

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