Ube Industries increases stake in Tokyo Cement

Japan-based Ube Industries' Singapore subsidiary Ube Singapore Holdings has acquired a further 10.62m shares in Sri Lanka-based Tokyo Cement Company Lanka Plc, for LKR764.6m (US$5m), a stock exchange filling said.

As at 31 March 2017, Ube Singapore Holdings held a share of over two per cent (4.4m shares) in Tokyo Cement. With this new acquisition its shareholding has increased to over 10 per cent.