Investors toast Cargills Bank approval

Friday, 24 January 2014 01:00 - - {{hitsCtrl.values.hits}}

Investors yesterday welcomed the impending launch of Cargills Banka Ltd., as share price of two key promoters rose. Cargills Plc saw its stock price gain by Rs. 5.10 to close at Rs. 150.10 whilst CT Holdings’ share price gained by Rs. 3.60 to Rs. 143.60. These two firms own 15% each in Cargills Bank Ltd., final approval for which was given by the Central Bank on Wednesday. Another shareholder owning nearly 10% the MJF Group-linked Tea Services rose by Rs. 18 to close at Rs. 695. With a paid up capital of Rs. 5 billion, other shareholders of Cargills Bank are IFC and DEG with 10% each. Among other notable shareholders are Brandix, MAS Holdings, Hirdaramani, Abans Ltd., Softlogic Holdings PLC, Asian Alliance Insurance PLC, AIA Sri Lanka, Melwa Group and Lalan Group.

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