LB Finance share sub division boosts price to all-time high

• 1 into 4 share split sees share price soar by 38% to Rs. 320.50
• In comparison to 2020 closing, yesterday’s price was up 119.5%

LB Finance Plc yesterday announced a share sub division on the basis of one into four boosting the price to new high.

Coming under Dhammika Perera's business empire, LB Finance share price shot up by Rs. 88 or 38% to close at Rs. 320.50. Around 2.6 million shares changed hands via 2,076 trades for Rs. 689.68 million. LB Finance share price ended 2020 at Rs. 146 and yesterday’s closing reflects an appreciation of 119.5%. In 2019 the share price closed at Rs. 153.30.

At present shares in issue is 138.5 million and post sub division it will increase to 554 million.

Dhammika Perera controlled Vallibel One Plc owns 51.75% whilst related parties Royal Ceramics holds 26%. Esna Holdings Ltd. of Eshana de Silva holds 10%. LB Finance’s public holding as at 30 September 2020 was 21.78% held by 2,380 shareholders.

LB Finance as at 30 September 2020 had Rs. 147 billion in assets. Net asset value per share as at 30 September 2020 was Rs. 182.60.

Liabilities were Rs. 121.6 billion. Shareholder funds amounted to Rs. 25.3 billion.

Share split on LB Finance confirms continuity of Perera’s mega move last week when Hayleys Plc and 13 other subsidiaries announced sub division of their shares sending stock prices to record highs.