Melstacorp sheds small stake in DCSL

Controlling shareholder Melstacorp PLC last week sold a small stake in Distilleries Company of Sri Lanka PLC (DCSL) for Rs. 18 million. 

The sale was in two stages: 50,000 shares at Rs. 23 each on 11 January and 700,000 shares on 15 January at Rs. 24.14 each.

Following the sale, Melstacorp’s holding in DCSL amounted to 92.44%.

Last week, DCSL saw 8.18 million of its shares changing hands via 1,051 trades for Rs. 190.3 million. The share price reached a 52-week high of Rs. 24.50 before closing at Rs. 24.30, up by Rs. 1.40 from the previous week.

DCSL also regained its number three position in the most valuable listed company list after losing the slot briefly to Browns Investments. Yesterday, DCSL closed 50 cents lower at Rs. 23.80 and had a market capitalisation of Rs. 109.48 billion.