First Capital Group firm buys 29.9% stake in Kotmale Holdings for
Rs. 207 m

First Capital Holdings (FCL) said that a Group firm has acquired 9,400,000 shares of Kotmale Holdings PLC which is 29.94% of the voting rights, for Rs. 206.8 million from Kshatriya Holdings.
It said the transaction was carried out at Rs.22/= per share based on a valuation range given by a reputed firm of Chartered Accountants.
The purchase is being made from parties who acted in concert with Kshatriya Holdings PLC at the time the original investment was made.
The purchase gives Kshatriya Holdings PLC control of 61.52% of the issued shares of
Kotmale Holdings PLC and will enable it to recognize Kotmale Holdings PLC as a subsidiary company and consolidate its results within its financial statements.