Nestlé Lanka to exit from the Colombo Stock Exchange

Nestle Lanka, part of the global ‘good food, good life’ food giant, on Wednesday announced that it was exiting from the Colombo Stock Exchange (CSE) as listed stock.

In a statement, it said the company has been actively seeking ways to have a more efficient operation to enhance its contribution to the country even further.

“Therefore, our Board of Directors has authorised the proposal to delist Nestlé Lanka from the Colombo Stock Exchange, subject to necessary approvals and clearances. The delisting will also help the company strengthen its focus on core business activities, whilst upholding Sri Lanka’s statutory reporting and compliance requirements,” it said.

Having operated in Sri Lanka for over 115 years, Nestlé Lanka’s deep-rooted bond and commitment towards the country and its people remains strong. In this journey, the ‘Good food, Good life’ company has worked closely with its stakeholders to positively impact families, communities, and the planet. The company also furthered its investments in 2022, including the capacity expansion of its factory in Kurunegala, and initiated a biomass boiler project in 2023.

Nestlé Lanka said it contributes to the livelihoods of thousands of Sri Lankan families, which includes 24,000 local dairy and coconut farmers and home-growers, and over 800 direct employees, to whom it provides opportunities for professional growth and international training and developmental exposure.

"We would like to thank our valued shareholders for continuing to place their trust in us and for the constant support offered over the years. We strongly believe that this proposal is in the best interest of our shareholders and assure that they would be rewarded with an attractive and fair premium. As in the past, we will work with communities and bring high quality products to our valued Sri Lankan consumers, whilst doing good for the planet. We will continue to drive efficiencies whilst focusing on delivering on our promise to the country and its people” said Bernhard Stefan, Managing Director of Nestlé Lanka.

Having started its operations in Sri Lanka in 1906, today, Nestlé has become an integral part of Sri Lankan lives. The company manufactures over 90 per cent of its products sold in Sri Lanka locally at its state-of-the-art factory in Kurunegala, employing strict safety and quality controls.