World Elite acquires 50% Gestetner stake for Rs. 318.7 m

Tuesday, 14 October 2025 02:34 - - {{hitsCtrl.values.hits}}

Gestetner of Ceylon PLC yesterday said that Hong Kong-based World Elite Ltd. has acquired a controlling 50.01% stake in the company through trades executed in the market.

World Elite purchased more than 1.3 million ordinary shares in Gestetner at Rs. 239.75 per share, amounting to a total consideration of Rs. 318.7 million.

Of the total shares acquired, 1.2 million were purchased from Gestetner (Eastern) Ltd., while the remaining 65,920 shares were bought from the market.

Gestetner of Ceylon PLC operates in the office automation and document solutions sector.

The share closed at Rs. 254 yesterday. The company reported a net asset per share of Rs. 212.60 as at end June 2025.