Expolanka_Holdings

Expolanka Holdings

Expolanka Holdings

Sri Lankan logistics company

Expolanka Holdings PLC is a diversified conglomerate with interests in logistics, leisure and ventures with a global presence in 20 countries and over 50 cities. As of May 2023, Expolanka Holdings PLC is the largest company by market capitalization on the Colombo stock exchange.

Quick Facts Company type, Industry ...

History

Expolanka Limited was established in 1978 as the Sri Lankan economy was liberalised and is the flagship company of Expolanka Holdings. Initially a pioneer exporter of fresh produce, Expolanka has had sustained growth emerging as a strong group of companies. The group has diversified into exports, imports and trading, freight forwarding & logistics, manufacturing, airline representation & operation, travels & tours and information technology over the years.

New Developments

Having announced on 26 April 2011, its intention to go public with an initial public offering after successful private placement of its shares to broad-base ownership, Expolanka Holdings went ahead with the IPO on 12 May 2011 floating 172,000,000 ordinary voting shares at LKR 14 per share.

Listed on the main board of the Colombo Stock Exchange, Expolanka Holdings PLC ranks among the top five diversified conglomerates in the bourse.[2]

In May 2014, SG Holdings, Japan's second-largest logistics firm, acquired a 30% stake in Expolanka Holdings PLC triggering mandatory offer requirements set by Sri Lanka's Securities and Exchange Commission.[3] In June 2014, SG Holdings confirmed that it has secured controlling interest in Expolanka with the acquisition of over 51% of total shares.[4]

On 1 March 2024, Expolanka Holdings PLC disclosed its intention to withdraw from the Colombo Stock Exchange (CSE) in a press release conveyed by the company Director and Group CEO Hanif Yusoof. This proposition will be contingent upon requisite shareholder approval, regulatory endorsements, and authorisations.[5][6] On 27 March, at the Extraordinary General Meeting the shareholders of Expolanka Holdings approved the requisite resolution pertaining to the proposed delisting of the shares of Expolanka Holdings from the Official List of the CSE. [7]On 8 May 2024, Expolanka Holdings disclosed that the company received permission from the Securities and Exchange Commission to its delisting request.[8]

Finances

More information Year, Revenue LKR (mns) ...

Source: Annual Report, 2022/23 (pp. 224–225)[9]

References

  1. [1]
    "Interim Report 2023/24" (PDF). cse.lk. Expolanka Holdings PLC. Retrieved 8 May 2024.
  2. [2]
    "CLC beats Expolanka Holdings in market capitalization". The Island. Upali Newspapers. 4 November 2021. Retrieved 5 April 2023.
  3. [3]
    "Japan Sagawa's deal with Expolanka boosts Lanka's hub aspirations". The Financial Times. Colombo, Sri Lanka. 12 May 2014. Archived from the original on 18 June 2014. Retrieved 16 June 2014.
  4. [4]
    "Results of the Takeover Bid of Expolanka Holdings PLC". 19 June 2014. Retrieved 3 July 2014.
  5. [5]
    "Expolanka plans delisting from CSE to focus on global growth". Daily Mirror. 2 March 2024. Archived from the original on 2 March 2024. Retrieved 2 March 2024.
  6. [6]
    "Most valuable PLC Expolanka announces de-listing from CSE". Daily FT. 2 March 2024. Archived from the original on 2 March 2024. Retrieved 2 March 2024.
  7. [7]
    "Expolanka extends Exit Offer deadline to 10 June | Daily FT". www.ft.lk. Retrieved 5 June 2024.
  8. [8]
    "Expolanka Holdings PLC - Delisting of ordinary shares from the official list of the Colombo Stock Exchange" (PDF). cse.lk. Expolanka Holdings PLC. Retrieved 8 May 2024.
  9. [9]
    "Annual Report 2022/23" (PDF). cse.lk. Expolanka Holdings PLC. Retrieved 8 September 2023.
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