Share prices of LAUGFS listed entities soar after Dhammika’s deal

Tuesday, 9 September 2025 02:42 - - {{hitsCtrl.values.hits}}

The prices of LAUGFS Gas and LAUGFS Power voting and non-voting shares shot up yesterday dominating the percentage wise gainers as investors reacted positively to the impending partnership with their holding company and business leader Dhammika Perera.

LAUGFS Gas voting share gained by 65.42% to Rs. 66.50 after touching a high of Rs. 69.90 and its non-voting share gained by 56% to Rs. 37.90 after touching a high of Rs. 40.

LAUGFS Power non-voting gained by 63% to Rs. 14.20 whilst it’s highest was Rs. 14.90. The voting share rose by 58% to Rs. 20.10 after peaking to Rs. 22.20.

Demand was on the rise as there were no further sellers. Around 3.6 million LAUGFS voting shares changed hands for Rs. 227 million via 1,390 trades. Its non-voting shares generated a turnover of Rs.142.6 million with 3.98 million X shares changed hands via 1,118 trades. Over 8 million LAUGFS Power voting shares changed hands for Rs. 151.7 million via 1,321 trades.

In separate announcements, the two companies announced that Director U.K. Thilak De Silva transferred 39.58% of ordinary shares of the parent company to Vallibel Three Ltd., and tendered his resignation.

The Daily FT yesterday reported the impending 50:50 partnership between Vallibel 3 and LAUGFS Holdings Ltd. (see https://www.ft.lk/top-story/Dhammika-adds-LAUGFS-to-his-growing-business-empire/26-781377)

Apart from interests on LAUGFS’ listed shares, the market was lacklustre as ASPI declined by 0.4% and S&P SL20 by 0.8%. Turnover was Rs. 6.1 billion involving 198 million shares.

First Capital said the market evidenced high levels of volatility, particularly during the second half of the day, with the ASPI ultimately closing at 20,906, marking a downtick of 86 points. The ASPI showcased positive momentum in the early hours and gradually started to fall during midday, after which it posted a volatile session. HNB, COMB, DFCC, CINS and JKH were the top negative contributors to the index. Both retail and HNW participation remained positive during the session. The Capital Goods sector led turnover contributions with an 18% share, while the Real Estate and Banking sectors collectively contributed 20%.

Asia Securities said the market was dragged by price declines in TKYO (-2.3%), JKH (-1.8%), RCL (-1.8%), ACL (-1.7%), and HNBN (-1.4%). In the first half of the session, the ASPI declined to 20,849 points (-143 points), primarily due to heavyweight stocks. Although the index rebounded in the second half amid increased buying interest, it failed to hold gains and closed lower. Despite the indices closing in red, property sector stocks witnessed a mixed performance with price gains in ASCO (+9.9%), RIL (+3.1%), and CLND (+1.0%) while price losses in EAST (-4.6%), OSEA (-1.3%), and PLR (-1.0%). CINSN (-23 points), JKH (-16 points), and HNBN (-15 points) were the major laggards of the index. The market breadth was negative with 72 price gainers and 178 decliners.

Turnover was mainly led by RIL (Rs. 431 million), CTHR (Rs. 411 million), and EBCR (Rs. 246 million).

Foreigners recorded a net outflow of Rs. 50.7 million. Net foreign buying topped in DIAL at Rs. 62.7 million and selling topped in SDB at Rs. 135.4 million.