LOLC Holdings PLC (LOLC) has sold 2,618,567,000 (62.35%) shares held in the Company of LOLC Finance PLC at an average price of Rs. 3.40 per share, company said in a Stock Exchange filing.
Of the shares sold, 2,614,934,919 (62.26%) shares have been purchased by LOLC Private Limited, Singapore (a LOLC Group Company and a subsidiary of LOLC Holdings PLC) for a consideration of Rs. 8,890,778,725. The purpose of the transaction is to facilitate an internal restructure of the holding of LOLC Finance PLC.
According to the stock exchange filing, there is no change in control of the Entity, nor any change to the ultimate beneficial owner as a result of the share sale.
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