A subsidiary of Asia Capital PLC (ACAP) and an associate company of Richard Pieris Group, Asian Alliance Insurance Company PLC (AAIC) shares rose by 14.02% yesterday, closing at Rs.150.50. The share price reached a high of Rs.175 and a total of 119,900 shares were traded via 333 trades. Public shareholding of the company is said to be 1.66% as at 31 December 2010.
It was reported that Asia Capital PLC, majority owners of Asian Alliance Insurance Company PLC (AAIC) is planning to sell its 73% stake in the company (held through connected parties) and exit the business.
AAIC's issued capital stands at 37.5 million shares. Richard Pieris Group holds 25% stake in the company, according to financials.
source - www.dailymirror.lk
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