Commercial Leasing Company PLC (CLC), now 98% owned by the
Lanka Orix Leasing Company (LOLC), will de-list from the Colombo Stock
Exchange (CSE) following a decision of its board of directors earlier this
month, CSE has been informed.
LOLC has also said that it has no immediate plans of
divesting its holding in Commercial Leasing.
Reasons adduced for the de-listing includes its
predominant control of CLC which makes the cost and administrative efforts
involved in maintaining its listing on the CSE not being justified by the
public shareholding in the company.
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