Biggest shareholder Fairfax invests Rs. 4 b more to up JKH stake by 1% to 26.5%

Friday, 6 February 2026 01:27 - - {{hitsCtrl.values.hits}}

Norges Bank exits

In a continuous show of confidence, the biggest shareholder Fairfax International yesterday bought further into top blue chip John Keells Holdings PLC (JKH) with an investment of Rs. 4 billion.

Overall, JKH saw 194.438 million shares sold for Rs. 4.32 billion. Of that, Fairfax acquired 188.53 million shares at Rs. 22.20 each. JKH closed the day at Rs. 22.70, up by Rs. 0.30.

As at 31 December 2025, Fairfax (HWIC Asia Fund) held 4.5 billion shares or 25.5% stake in JKH. With yesterday’s purchase, the stake has increased to 26.5%.

The deal on JKH boosted the turnover at the Colombo Stock Exchange (CSE) to Rs. 11.1 billion.

In September last year, Fairfax picked up 1.3% stake for Rs. 5.2 billion, paying Rs. 23.20 per share. The seller then, as well as yesterday, was Norges Bank Account 2, whose portfolio is managed locally by Lynear Wealth.

Late last month, JKH announced strong earnings for the third quarter, with all businesses reporting improved profitability driven by momentum across the Group portfolio.

Group earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 68% to Rs. 23.76 billion in 3Q. Cumulative Group EBITDA for the first nine months of the financial year 2025/26 rose by 86% to Rs. 55.10 billion.