As part of a strategic investment & diversification, Renuka Holdings Group bought Guardian Capital Partners PLC (WAPO) control by purchasing 75.6% of the company stake for LKR 636 million.
Renuka Holdings subsidy Shaw Walla & Hedge Ltd. acquired a 33.67% stake by purchasing LKR 8.7 million shares for LKR 283.24 million at LKR 32.30 per share. Shall Wallace Investments PLC acquired 7.74 million shares (29.97%) for LKR 252.13 million. It was also noted that Renuka affiliated S.V. Rajiyah & J.J.B. Aloysius also purchased 3.13 million shares (12%) for LKR 101 million.
As of June 30th, Ceylon Guardian Investment Trust a 84% of WAPO while Carson Cumberbatch held a 2.25% stake.
On the 28th of October 2021, the WAPO share price rose by LKR 2.40 (7.4%) to close at LKR 34.70. 21.87 million shares changed hands in 372 trades for LKR 707 million. The company’s public float is around 13% divided among 2070 shareholders.
Guardian Capital Partners holds assets worth LKR 793 million with revenue reserves of over LKR 276 million. The Net Assets per share rose from LKR 30.38 to LKR 30.56. The shareholder approval for the sale was received on the 7th of January through the Extraordinary General Meeting.
No.820, Mount Cresent,Malabe,Sri Lanka