EPF sheds 38% of its stake in Hayleys to book profit

Monday, 11 January 2021 00:30 -     - {{hitsCtrl.values.hits}}

  • Sells down from 5% holding in diversified blue chip to 1.85%
  • With 1% stake Sri Lanka Insurance Life Fund becomes 6th largest shareholder from 17th 
  • HNWI and ex-Director Nimal Perera, J.B. Cocoshell among new buyers
  • Finco Holdings third largest shareholder now with 3% stake
  • Business leader Dhammika Perera in control with 54% stake 

Sri Lanka’s export and manufacturing rich diversified conglomerate Hayleys has seen renewed interest thanks to biggest superannuation fund EPF partly shedding its stake, thereby boosting liquidity of the share. 

In the quarter ended on 31 December 2020, Hayleys saw near 10 million shares (9.96 million) changing hands via 15,074 trades for Rs. 3.8 billion. It closed the quarter at Rs. 414.50, up by 48% after hitting a peak of Rs. 450 and a low of Rs. 242.

The Employees Provident Fund (EPF) booking profit, had sold 1.43 million shares during the quarter ended December 2020 reducing its stake by 38% from 5.04% as at end September to 1.85% end December. 

In the process, EPF became the fourth largest shareholder pushing up Finco Holdings Ltd., to number three with an unchanged stake of 2.3 million shares or 3.12%. Business leader Dhammika Perera remains in control with 54% stake in Hayleys PLC. Trustees of the D.S. Jayasundera Trust holding 11.6% (second largest) and Hayleys Group Services Ltd holding 1.49%.

Among others likely to have sold in the quarter ended December are Commercial Leasing Finance PLC which held 0.55% stake and Associated Electrical Corporation which held 0.53% stake.

Market analysts said Sri Lanka Insurance Life Fund was among the biggest buyers during the quarter ended December 2020 collecting over 400,000 shares to total now at near 800,000 shares or 1.06%. Among other buyers were high net worth investor and former Hayleys Board director Nimal Perera holding 500,000 shares and J.B. Cocoshell holding around 375,000 shares. 

Hayleys public float is 37% stake held by 6,369 shareholders.

Last week which was the first trading week of the New Year, Hayleys closed at Rs. 416.75, down by Rs. 1.15 from a week before after 1.05 million shares changed hands via 1,196 trades last week for Rs. 442 million.

In December, Hayleys saw nearly 4 million of its shares traded for Rs. 1.57 billion, with a highest price of Rs. 425.50 (52-week highest is Rs. 450 achieved in November) and lowest of Rs. 368 before closing at Rs. 414.50 up from Rs. 385 in November. In November, 4.5 million Hayleys shares traded for Rs. 1.78 billion. In October, 1.45 million shares traded for Rs. 443 million in which month a new 52-week high of Rs. 375 was achieved.


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CSE outperforms MSCI Frontier Markets by 47% in December