Shares of Muthoot Finance gained nearly 2% at Rs 193 after the company announced the acquisition of stake in Sri Lanka-based Asia Asset Finance PLC.
The company in a release after market hours on Monday said it had acquired 167,785,600 existing equity shares of Asia Asset Finance PLC (AAF) representing 29.98% of the total capital of AAF.
The purchase of existing equity shares of face value LKR 1 each of AAF from Asia Capital PLC, a major shareholder of AAF, was through Colombo Stock Exchange at a total value of LKR 268 million, the release said.
The stock opened at Rs 192 and touched a high of Rs 197 so far. Over 262,000 shares were traded on both the stock exchanges so far.
