JKH to sell excess NTB stock

John Keells Holdings (JKH) is looking for a buyer to off load its excess stock of 14 % in Nations Trust Bank (NTB) under new Central Bank rules but it has five years to do this.

“We have been requested by the Central Bank to reduce the shareholding in five years,” a senior JKH official said. The company has 29 % in NTB, Central Finance has 14 % and the rest is held by the public. The Central Bank permits single shareholding upto 15 % under new rules promulgated early this year.