Metdist Got $209.9 Million From Sale of LME Shares in 2012Claudia Carpenter
Metdist Ltd. sold its shares in the London Metal Exchange to Hong Kong Exchanges & Clearing Ltd. for $209.9 million, according to a filing with U.K.’s Companies House.
Metdist disposed of its 1.21 million shares in LME on Dec. 5, according to the filing. Metdist was the third-largest shareholder of the LME before the takeover. The profit from the sale of the shares will be reported for the year ended Aug. 31, 2013, it said.
Profit after tax for the 17 months ended Aug. 31 was $39.7 million, compared with $1.2 million for the 12 months ended March 31, 2011, according to the filing. Sales were $1.14 billion for the 17 months compared with $671 million for the 12 months ended March 31, 2011, it said.