Nahil ups stake in East West Properties to 37%

Tuesday, 4 August 2020 01:04 -     - {{hitsCtrl.values.hits}}

Business leader Nahil Wijesuriya has increased his stake in East West Properties Plc to 37%.

This is after purchasing a 20% stake amounting to 27.76 million shares last week at Rs. 11 per share in a deal worth over Rs. 305 million.

Separately the company also announced last week Executive Director Anika Wijesuriya has resigned from the Board of Directors with effect from 28 July. At the time of resignation she held 29.79 million shares or a 21.5% stake.

Nahil’s other children Vajira and Vijitha hold an 18.8% and an 18% stake respectively in the company.

Last week the share price of the company closed at Rs. 12.30 whilst intra-week it touched a high of Rs. 13.70. Around 39.5 million shares were transacted via 2,178 trades for Rs. 451 million.