SG Holdings ups stake in Expolanka Holdings to 81%

Monday, 19 December 2022 04:31 - - {{hitsCtrl.values.hits}}

Parent SG Holdings of Japan has increased its stake in Sri Lanka’s most valuable listed entity Expolanka Holdings PLC to 81% as of Friday from 79% by end September.

Its acquisition of Expolanka shares from the market has been largely responsible for Rs. 7 billion net foreign inflow in December and over Rs. 24 years to date.

As at end June, SG Holdings was 75.62% and increased to 79.47% by end September, Daily FT learns as of Friday 16 December the holding has increased to 80.9%. On Friday, Expolanka closed at Rs. 208..

Last week 19.54 million shares of Expolanka Holdings traded for Rs. 4 billion and the previous week 12.7 million shares traded for Rs. 2.57 billion. In the week ended 2 December 2022, around 28.2 million shares of Expolanka traded for Rs. 5.3 billion.

In November, 42.14 million shares of Expolanka changed hands via 33,187 trades for Rs. 6.8 billion. It closed November at Rs. 183, up by Rs. 28.45 from the previous month. Highest price for November was Rs. 197.50 and the lowest was Rs. 116. Expo’s 52-week highest price was Rs. 405 and the lowest was Rs. 90.

In October, SG Holdings wasn’t overly active pending the release of Expolanka Holdings’ second quarter results. In October 28.5 million shares traded for Rs. 4.6 billion.