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Investor Raises Stake in Blue Diamonds Jewellery

Dec 27, 2013 10:53 AM   By Jeff Miller
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RAPAPORT... Xia Liqiang purchased nearly 8.5 million shares of Blue Diamonds Jewellery Worldwide of Sri Lanka, increasing his stake in the company to 17.88 percent, according to a regulatory filing.

Capital Trust Securities, a Colombo-based brokerage, secured the deal that placed Liqiang as the jewelry maker's top shareholder. Vanguard Management Services reported that Blue Diamonds Jewellery Worldwide has been facing weaker revenue and share price in the past year.

In the company's most recent financial statement, revenue plunged 45.9 percent year on year to $145,327 (LKR 19 million) in the second quarter that ended on September 30. However, profit jumped to $8,069 from $2,000 one year ago.

Tags: blue diamonds jewellery, investors, Jeff Miller, sri lanka
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