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Cargills Bank goes public

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The Colombo Stock Exchange (CSE) has approved, in-principle, an Application submitted by the Cargills Bank Limited, for the listing of its Ordinary Voting Shares by way of an offer for subscription on either the Main Board or Diri Savi Board of the CSE.

The company plans to issue 62.5 million Ordinary Voting Shares at a price of Rs. 8/- per share. Accordingly Rs. 500 million is planned to be raised by the bank through this IPO.

The subscription list will be opened on 14th December 2023.

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No change in domestic LP gas prices this month

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Sri Lanka’s 02 main domestic gas suppliers, Litro Gas and Laugfs Gas, have confirmed that there will be no price revision for domestic LP gas cylinders this month.

Both companies stated that gas cylinders will continue to be sold at existing prices.

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National Tax Week kicks off today

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The National Tax Week begins today (June 02) under the theme “Strength through taxes”.

The inaugural ceremony is to be held at the President’s Office under the patronage of President Anura Kumara Dissanayake.

Deputy Commissioner General of the Inland Revenue Department (IRD), P.K.S. Shantha stated that from today to June 07, officials will conduct awareness programs on the benefits of timely tax payments and the process of obtaining a Taxpayer Identification Number (TIN).

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1st stock of imported coconut milk to undergo clearance, lab testing today

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The first consignment of imported coconut milk under the Government’s raw material importation programme is scheduled to undergo clearance and laboratory testing today (31), as part of a coordinated initiative by the Plantation Industries Ministry.

This initiative, approved by the Cabinet, aims to supply essential raw materials to industries linked to the coconut sector, aiming to reduce domestic coconut prices and support local manufacturers. The consignment currently under clearance includes products equivalent to 200 million coconuts. They are in the forms of frozen coconut milk, coconut milk powder and chunked coconut with testa (non-copra), imported as part of the programme initiated in March 2025. The stock will be used primarily in the coconut milk powder industry, which has been facing raw material shortages. The Plantation Industries Ministry expects this move to reduce the pressure on local coconut supplies and contribute to a drop in retail coconut prices.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

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