Dhammika transfers RCL control to Vallibel One for Rs. 9.2 b

Wednesday, 27 October 2010 01:32 - - {{hitsCtrl.values.hits}}

As exclusively reported in the Daily FT yesterday, top but young investor and entrepreneur Dhammika Perera transferred his 51% stake amounting to 28.25 million shares in Royal Ceramics to Vallibel One Ltd., for Rs. 9.2 billion. This deal was largely responsible in boosting turnover at the Colombo bourse to Rs. 11.2 billion yesterday whilst investor sentiments remain weak as both indices suffered over 1% dip, more sharply yesterday than on Monday.

HNB Bank also contributed Rs. 538 million to the turnover with nine crossings of 1,236,000 shares at

Rs. 408 while the price increased by Rs. 0.60 (0.15%) and closed at Rs. 406.90. Foreign holding of HNB rose by 1.2 million shares.

Another four major crossings were also recorded for 3,960,600 shares (200,000 shares at Rs. 298 and 1,000,000 shares at Rs. 296.50) of John Keells Holdings and 350,000 shares of Commercial Bank at Rs. 265.

The transfer of 51% stake in RCL for Rs. 9.2 billion was hot on the heels of 51% stake transfer of LB Finance for Rs. 5.3 billion on Monday to Vallibel One, which Dhammika floated to institutionalise and consolidate some of his listed personal investments.