The largest shareholder of Pelwatte is Master Divers Limited controlled by Pelwatte Director Ariyaseela Wickramanayake. It owns over 82 percent of the company, while Ariyaseela Wickramanayake in his personal capacity holds 3 percent.
According to Wikramanayke, there is no take over bid in motion. High international sugar prices forced the share price to go up. “There’s no reason to divest my stake in the company, because of rising international sugar prices,” he added.
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