Sri Lanka Cabinet Approves Sale of Treasury’s Shares in SLT and Lanka Hospitals
In a recent development, the Treasury Secretary of Sri Lanka has informed the Board of Directors of Sri Lanka Telecom and Lanka Hospitals PLC that the Cabinet of Ministers has given its nod of approval for the divestment of the stakes held by the Treasury Secretary in the two companies. Sri Lanka Telecom PLC and Lanka Hospital PLC are two companies listed on the Colombo Stock Exchange, and the government’s decision to sell its shares in these companies is in line with its policy decision.
The Treasury Secretary currently holds a significant 49.50% stake in the issued share capital of Sri Lanka Telecom PLC, while the Sri Lanka Insurance Corporation, representing the Government of Sri Lanka, holds a 51.34% stake in Lanka Hospital PLC.
With the Cabinet’s approval in principle for the divestment of these stakes, both companies have announced that they have received the green light to sell the shares owned by the government.