Muthoot Finance updates on acquisition of 51% stake in Asia Asset Finance PLC

Asia Asset Finance PLC becomes a subsidiary

Muthoot Finance announced that pursuant to open offer given by Muthoot Finance ("the Company") for acquisition of shares of Asia Asset Finance PLC (AAF) in Colombo Stock Exchange, Srilanka; the Company has acquired 56,059,084 shares at 1.60 LKR. Company has received the necessary approvals from Colombo Stock Exchange/ Securities Exchange Commission for transferring the shares acquired via open offer to Company's account.

The Company now holds 428,011,711 shares in AAF representing 51% of total equity shares of Asia Asset Finance PLC, Sri Lanka post open offer. Pursuant to the present acquisition, AAF has become subsidiary of the Company.

 

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