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PDL Plans To Exit CSE With An Attractive Offer
Posted 17,February

By Chaveendra Dunuwille

In Local News

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Following a meeting on the 14th of February 2022, Property Development PLC, a subsidiary of the Bank of Ceylon, and the owners of BOC Tower announced their intention to delist its shares from the official board of the Colombo Stock Exchange. 

The management plans to present an attractive offer to its shareholders and is expected to hold an extraordinary general meeting to put forward a resolution to the shareholders and gain approval to delist. 

The management plans on purchasing the 0.5% shares owned by investors for LKR 183 per share. This will be a bonus to any shareholder as PDL shares closed at LKR 132.50 and recorded the highest market price at LKR 155 in 2020. 

In September 2021, the company reported a profit of LKR 161.53 million in profit and LKR 228.70 million. However, the company was hit hard by the pandemic and was forced to scale back many of its investment projects.