Bogawantalawa Plantations is negotiating with a partner in the United States to supply a multinational corporation with tea packaged by their wholly owned subsidiary, BPL Teas (Pvt) Limited, the company has told regulators at the Colombo Stock Exchange (CSE).

Bogawantalawa responded to a CSE query on the recent increase in its share price saying they understood "that the market has learnt of on-going negotiations" with their US partner.

"Only sample shipments have been made so far," Bogawantalawa CEO Sarath Fernando has said in a letter to the CSE. "No formal agreement has been entered into."