The daily turnover at the Colombo Stock Exchange topped the Rs. 13 billion limit this morning (28 March).
This was due to a share transaction of Lanka Orix Leasing Company (LOLC).
There was a transaction of 142,458,490 shares belonging to Orix Corporation of Japan, which is a prime shareholder of LOLC, at Rs. 90 per share. This is 29.97 per cent of the company’s declared capital.
The turnover through this transaction alone was Rs. 12.8 billion (12,821,264,100.00).
According to reports, these shares have been acquired by Mr. Ishara C. Nanayakkara, the Deputy Chairman of LOLC and the largest shareholder of the company. He has acquired these shares through LOLC Holdings (Pvt) Limited. Mr. Nanayakkara is the sole Director and shareholder of LOLC Holdings (Pvt) Ltd.
With this acquisition, Ishara Nanayakkara’s effective control increases to 78.88 per cent.
Sources : Ada Derana