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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Country’s oldest company enters Bourse via subsidiary

Country’s oldest company enters Bourse via subsidiary

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Considered Sri Lanka’s oldest commercial establishment, George Steuart will enter the Colombo stock market by listing its finance industry subsidiary, a development which analysts described as momentous.

This is following the Colombo Stock Exchange (CSE) approving in principle an application submitted by George Steuart Finance Ltd for the listing of 22.5 million ordinary voting shares of the company on the Diri Savi Board of the CSE by way of an Introduction.

Having founded in 1835, the parent marks 177 years of its existence in the country this year and the listing of the subsidiary is spearheaded by its new controlling shareholder Dilith Jayaweera and new Board re-engineering growth prospects.

George Steuart & Company currently operates a highly diversified portfolio of twelve subsidiaries involved in a plethora of business activities, from tea to pharmaceuticals, to travel and recruitment, to telecommunications and education, real estate, insurance, advertising and financial services.
http://www.ft.lk/2012/08/14/countrys-oldest-company-enters-bourse-via-subsidiary/

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

You can put the jigsaw puzzle together. older news and the current introduction

http://www.ft.lk/2011/09/12/dilith-nimal-strike-it-big/

Dilith & Nimal Acquire 40% stake in Sri Lanka’s oldest conglomerate George Steuart & Company marking a new beginning and in first major deal between the two Former Chairmen Scott Direckze, S. Skandakumar and current Chairman Jayantha Wimalagooneratne sell stakes; deal on Group MD Dubsy Kanagaratnam's stake pending Dilith to use 176 year old firm as vehicle to build a new business model and consolidate his other investments under it; Nimal to make it an associate in his first acquisition following the footsteps of his friend Dhammika Perera.
Heralding what is said to be a new and long journey together top investors Nimal Perera and Dilith Jayaweera have acquired over 40% control of Sri Lanka’s oldest conglomerate George Steuart and Company Ltd., in what is their first and strategic combined deal.

Hanoifortune

Hanoifortune
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
we can anticipate a bull run near future!!

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The shares they have interest shows some signs of Activeness

Sidath

Sidath
Manager - Equity Analytics
Manager - Equity Analytics
Isn't this just Divisa Finance in another name ? If so the headline is mis leading as George Steurat itself is not listing.

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