- stocks hunterTop contributor
- Posts : 1280
Join date : 2014-03-16
Mandatory offer gives LOLC unit over 94% of Brac Lanka
Brac Lanka, previously Nanda Investment and Finance, was acquired by Commercial Leasing and Finance which is a member of the LOLC Group. Founded in Bangladesh in 1972, Brac which is into microfinance has a presence in ten countries.
The acquisition was part of the Central Bank initiated financial sector consolidation.
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- Future123Active Member
- Posts : 1435
Join date : 2014-04-09
Re: Mandatory offer gives LOLC unit over 94% of Brac Lanka
I hold small quantity of NIFL (Brac Finance) and CLC took over without my consent and sent me a cheque.
In the letter, they have given an option to pay back what was remitted to me and get the shares back to my CDS. There are around 5 million shares with minority.
What do you think? Is it better paying and getting NIFL back? Their financials improved a lot in the last quarters.
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