Akbar, Hirdaramani confirm purchase of WindForce shares

Tuesday, 22 June 2021 01:18 - - {{hitsCtrl.values.hits}}

Two founder promoters yesterday confirmed the purchase of more shares in WindForce Ltd. last week for Rs. 601.6 million.

The Daily FT on Friday exclusively reported the move.

In a filing to the Colombo Stock Exchange yesterday Akbar Brothers confirmed it bought 27 million more shares of WindForce Ltd. for Rs. 492.4 million on 17 and 18 June whilst Hirdaramani confirmed it picked up six million more shares for Rs. 109.2 million on 17 June. WindForce share price closed at Rs. 18.90 yesterday.

The quantities were within the 106.5 million shares traded for Rs. 1.94 billion on Thursday.

The collective quantity of 33 million shares accounts for 2.5% stake in WindForce. The balance was bought by Sweden-based global asset management company Tundra Fonder’s Tundra Sustainable Frontier Fund for over Rs. 600 million. The move meant Tundra doubling its stake to 5.5% in WindForce, which is Sri Lanka’s largest renewable energy group.

Akbar Brothers and Hirdaramani held 38.85% and 24.32% respectively as of 31 March. The seller on Thursday was one of the original shareholders, Star Pack Investments Ltd., which as of 31 March held 107.4 million shares or 9.36% in WindForce.

Stock market starts fresh week on mixed note

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.