The Colombo Stock Exchange stated that Equity One PLC, a public listed property development company has been delisted with effect from 02 November 2016. Hence, trading of Equity One PLC shares has stopped from yesterday.
Carson Cumberbatch PLC owns the largest stake at Equity One PLC, which is 96.27 per cent.
Subsequent to the regulation that CSE listed companies should maintain at least 20 per cent of their share capital as a public float several companies took steps to delist themselves. Equity One PLC too is one such company. By 30 June 2016 Equity One PLC indicated a minimum public float of 3.72 per cent of its declared capital.
Carson Cumberbatch PLC, the main shareholder at Equity One PLC has taken steps to buy back the shares of the minor shareholders at Rs. 77.50 per share.
Equity One PLC, a property development company, engages in the letting of office and warehouse space for commercial purposes. The company also involves in the development and sale of residential and commercial units. In addition, the company provides property management services. The company was incorporated in 1981 and is based in Colombo, Sri Lanka. Equity One PLC is a subsidiary of Carson Cumberbatch PLC.