Dialog overtakes JKH as most valuable listed company

Tuesday, 26 May 2026 05:17 - - {{hitsCtrl.values.hits}}

Regains top spot after 11 years

Dialog Axiata yesterday overtook John Keells Holdings (JKH) to become the most valuable listed company in terms of market capitalisation.

Dialog’s market cap reached Rs. 367.1 billion, amounting to 4.51% of total market cap, which was Rs. 8.11 trillion yesterday, up 2.04% from Friday.

JKH came second with a Rs. 359.4 billion market cap (4.42% of total market cap), followed by Ceylon Tobacco Company with Rs. 341.9 billion (4.2%), Commercial Bank with Rs. 320.9 billion (3.95%), and LOLC Holdings at fifth with Rs. 268 billion (3.3%).

At sixth was Distilleries Company with Rs. 261.7 billion (3.22%), followed by Melstacorp with Rs. 218.2 billion (2.68%), Hayleys with Rs. 189.4 billion (2.33%), Hatton National Bank with Rs. 185.7 billion (2.28%), and Cargills Ceylon becoming the tenth largest company in terms of market cap at Rs. 177.8 billion, accounting for 2.19% of total market cap.

From the 1980s onward, JKH was the dominant blue chip on the Colombo Stock Exchange (CSE) by market capitalisation for much of the modern era, although several companies briefly challenged or overtook it during exceptional market cycles.

The most notable was Dialog Axiata PLC following its 2005 listing, while Expolanka Holdings PLC surged during the 2021-2022 global logistics boom. LOLC Holdings PLC and Hayleys PLC also rose sharply during the post-pandemic market rally.

However, no listed company matched JKH’s consistency and longevity at the top end of the Sri Lankan equity market for over roughly four decades.