Spence savvy EPF

Thursday, 30 June 2011 02:01 - - {{hitsCtrl.values.hits}}

With more buying pension fund now owns 6.4% of parent and 8% of AHOT

Employees Provident Fund (EPF) is increasingly becoming savvy of diversified blue chip Aitken Spence and company as well as its leisure subsidiary Aitken Spence Hotel Holdings (AHOT).

On top of Monday’s buying, EPF yesterday bought around 2.9 million shares in Aitken Spence increasing its holding to over 6.4%.

The block bought yesterday amounted to 0.7% and with 0.2% bought on Monday it now estimated to be having around 26 million shares. Spence peaked to a high of Rs. 138.40 before closing at Rs. 136.50, up by Rs. 1.90 over Tuesday. In total 3.4 million Spence shares traded for Rs. 454.8 million.

On Aitken Spence Hotel Holdings (AHOT), the EPF picked up 3.4 million shares or 1% increasing its stake to nearly 8% or 26.6 million shares. Bank of Ceylon had picked up some quantities of both stocks as well. The stock price peaked to a high of Rs. 76.50 before closing unchanged at Rs. 75.

Major sellers of Spence were Ceylon Guardian Investment Trust, Ceylon Investment whilst on AHOT sellers included Ceybank Unit Trust funds along with several other institutional and high networth investors.

AHOT saw 3.5 million shares traded for Rs. 265.3 million.

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