Sri Lanka, Oct. 14 -- Gestetner of Ceylon PLC yesterday announced that World Elite Limited, a company incorporated under the laws of Hong Kong, has acquired a controlling interest in the company through a transaction executed on the Colombo Stock Exchange.
According to a disclosure, World Elite Limited purchased 1,329,115 ordinary shares of Gestetner of Ceylon at a price of Rs.239.75 per share, representing a total investment of approximately Rs.318.7 million. Of this, 1,263,195 shares were acquired from Gestetner (Eastern) Limited, while the remaining 65,920 shares were purchased from the open market.
Following the acquisition, World Elite Limited now holds 50.01 percent of Gestetner of Ceylon PLC's issued ordinary shares, effectively ...