Melstacorp on buying spree of DFCC

Melstacorp on Monday bought a further 1.43 million shares of DFCC Bank for Rs. 168 million.

The purchase of the 0.5% stake comes after Melstacorp picked up over a 1.5% stake last week for Rs. 436 million, thereby becoming the largest private sector shareholder in DFCC Bank. Melstacorp has been buying DFCC shares from foreign fund Aberdeen. DFCC share yesterday closed at Rs. 124, down by one rupee.  DFCC’s foreign holding has come down to 23.5% as of Monday from 25.5% on 25 November.

The other major shareholders above it are the Bank of Ceylon (14.35%), HNB (12.22%), SLIC (10%) and EPF (9.19%).