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Melstacorp sells 700,000 DCSL shares

19 Jan 2021

Melstacorp PLC , listed in the Colombo Stock Exchange (CSE), announced the sale of 700,000 shares it held in its subsidiary, Distilleries Company of Sri Lanka PLC (DCSL), on 15 January 2021 in a disclosure released by the CSE. , listed in the Colombo Stock Exchange (CSE), announced the sale of 700,000 shares it held in its subsidiary, Distilleries Company of Sri Lanka PLC (DCSL), on 15 January 2021 in a disclosure released by the CSE.  In a CSE disclosure, Melstacorp noted that the company sold these shares of DCSL at the price of Rs. 24.14 per share. Following the said disposal, Melstacorp PLC currently holds 92.44% of DCSL shares.  DCSL is a Sri Lankan distillery specialising in the distillation, manufacture, import, and distribution of liquor. Furthermore, listed in the CSE with a market capitalisation of $ 600 million, DCSL was one of the first Sri Lankan companies to be listed in Forbes' Best Managed Companies under a billion dollars outside the US. The company announced a gross turnover of Rs. 82 billion, while achieving a profit after tax of Rs. 5.8 billion last year, compared to Rs. 5.4 billion in 2018/19, an increase of 7%.   Melstacorp PLC is known as one of the 10 largest listed companies. It has a market capitalisation of approximately $ 450 million. Consisting of total assets worth Rs. 253,207 million, the diversified conglomerate company achieved a gross turnover of Rs. 154,475 million, followed by a profit after taxes amounting to Rs. 4,425 million in its 2019/20 Annual Report.  The company, originally formed as Beruwala Distillery (Pvt.) Ltd. in 1995, was renamed by DCSL after its acquisition. Thereby, all subsidiary companies of DCSL were transferred to the company during 2010-2015, followed by the present Melstacorp’s listing in the CSE from December 2016.  


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