Unisyst Engineering to de-list from CSE at exit offer price of Rs. 6 per share

By Hiran H.Senewiratne

Unisyst Engineering PLC, a subsidiary of the Hayleys Group, has announced it would be delisting from the CSE.

‘The Securities and Exchange Commission has granted their approval to delist the shares of Unisyst Engineering from the Official List of the CSE, at an exit offer price of Rs.6 per share, a CSE source said. The company said an offer letter will be sent to the shareholders shortly.

Formerly Alufab PLC, Unisyst Engineering is an aluminium supplier in Sri Lanka. The company’s revenue increased by 38 percent to Rs 784 million during the last financial year, according to sources: “Unisyst Engineering PLC will continue to leverage the strengths of its partnership with Hayleys Advantis as it seeks to drive increased penetration in selected customer segments, they said.

Amid those developments the CSE was volatile due to worries among investors over the on-going tension between Iran and Israel in the West Asian region because Iran is a leading buyer of Sri Lankan tea. Profit- takings were also notable in the market, market analysts said.

Both indices moved downwards. THe All Share Price Index went down by 26.9 points while S and P SL20 declined by 6.77 points. Turnover stood Rs 2.5 billion with five crossings. Those crossings were reported in Melstacope, which crossed 3.5 million shares to the tune of Rs 315 million; its shares traded at Rs 90, HNB 1.4 million shares crossed for Rs 285 million; its shares sold at Rs 200, Hayleys Fabrics 1 million shares crossed for Rs 41 million and its shares traded at Rs 41, Lanka IOC 200,000 shares crossed to the tune of Rs 25 million and its shares traded at Rs 125 and Vallibel One 396,000 shares crossed for Rs 21.5 million; its shares fetched Rs 54.30.

In the retail market top seven companies that mainly contributed to the turnover were; LOLC Finance Rs 162 million (27 million shares traded), Lanka IOC Rs 126 million (1 million shares traded), HNB Rs 122 million (606,000 shares traded), Ambeon Capital Rs 109 million (9.6 million shares traded), LOLC Holdings Rs 106 million (250,000 shares traded), Browns Investments Rs 86 million (15.1 million shares traded) and JKH Rs 85.5 million (424,000 shares traded). During the day 111.9 million share volumes changed hands in 17000 transactions.

Yesterday, the rupee opened at 298.40/60 to the US dollar in the spot forex market, from 298.50/55 on Wednesday, dealers said, while bond yields were steady. A bond maturing on 15.12.2026 was quoted stable at 11.30/35 percent. A bond maturing on 15.09.2027 was quoted stable at 11.90/12.00 percent. A bond maturing on 15.12.2028 was quoted at 12.10/18 percent, up from 12.10/15 percent.