Metropolitan invests Rs. 93 m to up stake in Bogawantalawa Tea to 78.5%

Tuesday, 28 February 2017 00:00 - - {{hitsCtrl.values.hits}}

Controlling shareholder Metropolitan Resource Holdings Plc has invested a further Rs. 93 million to up its stake in Bogawantalawa Tea Estates to 78.5%.

On Friday it bought 9.3 million shares amounting to 11.1% stake in the subsidiary at Rs. 10 per share. As at 31 December 2016, Metropolitan held 67.35% stake. Net assets per share of Bogawantalawa is Rs. 13.29 at the company level and Rs. 14.50 at the group level.

Friday’s seller was high net worth investor Dr. T. Senthilverl.