East West Properties PLC has announced its decision to abandon plans to delist its shares from the Colombo Stock Exchange (CSE).

The decision, made by the company’s board of directors through a circular resolution dated 26 August, reverses an earlier resolution to delist the company’s securities.

The initial decision to delist was made in late July 2024, following a request from the principal shareholder, Nahil Wijesuriya.

At that time, the board of directors had resolved to initiate the delisting process, which would have required approval from shareholders and regulatory bodies.

As part of the plan, Wijesuriya had proposed to buy out shares from any shareholders wishing to divest at a price of Rs. 16 per share.

A circular and notice of an extraordinary general meeting (EGM) were expected to be sent to shareholders to discuss the delisting proposal in detail.

However, with the latest development, the company will remain listed on the CSE, and the previously proposed EGM may no longer be necessary.