Sri Lanka Kuruwita Textiles To Go Private!
Sri Lanka’s Kuruwita Textiles Plc, said it planned to de-list from the Colombo Stock Exchange amid continued losses, with the main shareholder offering 30 rupees per share.
The stock last traded at 20.90 rupees.
Kuruwita Textiles chairman Aslam Omar said in a stock exchange filing that over the past four years attempts were made to return to profitable but they were not successful.
Its net assets per share had fallen to 24.10 rupees by December 2013 from 43.09 in March 2011.
The main shareholder, Brandix Textile Holdings were offering 30 rupees per share to any minority shareholders who wanted to sell.