Ravi LADDUWAHETTY
W.M. Mendis and Company will be relisted in the Colombo Stock Exchange soon, the new owner said yesterday.
“We have definite plans of relisting in the bourse soon, although a date and timeframe cannot be spelt at this stage, Perpetual Capital Chairman and CEO Arjun Aloysius which acquired the controlling interests of W.M. Mendis, told Daily News Business yesterday.
He said the acquisition was also meant to merge synergies with Free Lanka Trading in which Perpetual Capital has the controlling interests.
Aloysius said the company has a significant export presence and is a substantial player in the local market, despite market leader Distilleries Company of Sri Lanka Ltd holding the majority of the market.
Currently, Mendis products are exported to the United Kingdom, Singapore, Japan, Australia and Canada.
“We will be increasing our presence in those markets with a protracted market strategy while exploring new markets,” he said.
source - www.dailynews.lk
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