World Elite acquires 50% Gestetner Ceylon stake for Rs. 318.7 million
Daily FT: Gestetner of Ceylon PLC has said that Hong Kong-based World Elite Ltd. has acquired a controlling 50.01% stake in the company through trades executed in the market.
World Elite purchased more than 1.3 million ordinary shares in Gestetner at Rs. 239.75 per share, amounting to a total consideration of Rs. 318.7 million.
Of the total shares acquired, 1.2 million were purchased from Gestetner (Eastern) Ltd., while the remaining 65,920 shares were bought from the market.
Gestetner of Ceylon PLC operates in the office automation and document solutions sector.
The share closed at Rs. 254 on 13 October. The company reported a net asset per share of Rs. 212.60 as at end June 2025.OSL take:
This latest acquisition shows the increasing business potential in Sri Lanka and the growing interest among foreign businesses/investors to be part of Sri Lanka’s ongoing growth momentum. Supported by the country’s geographical positioning in the Indian Ocean, the strong trade ties enjoyed with many foreign countries and the business conducive environment, Sri Lanka is fast approaching on its target of becoming a hub in the South Asian region. These factors and the overall economic expansion have all made Sri Lanka an attractive business destination for foreign businesses/investors. Apart from the many business/investment opportunities related to all key economic sectors, foreign businesses/investors could explore the possibilities of expanding operations through partnerships or joint ventures with local businesses. With the increasing interest on Sri Lanka by foreign businesses/investors as well as some key foreign governments, the country could be used as a base by foreign business entities to engage with other countries in the region using the preferential treatment enjoyed by Sri Lanka with those countries.
| Article Code : | VBS/AT/20251016/Z_4 |