Lanka Hospitals share price gains on EOI call

Lanka Hospitals Corporation (LHCL) share price gained yesterday by 7% or Rs. 8 to close at Rs. 120.50 following the calling for Expression of Interests from interested parties for the Government stake in the entity.

The gain was on thin volume of 209,777 shares changing hands via 392 trades for Rs. 25 million.

LHCL’s highest share price in the past 52 weeks was Rs. 139 and the lowest was Rs. 86. Last week it declined by Rs. 7.25 to close at Rs. 106.50.

The Government yesterday published the invitation to pre-qualify and bid for 51.34% stake in LHCL. The divestiture will be completed through a two-stage competitive bidding process.

International Finance Corporation (IFC), a member of the World Bank Group, is advising the Government on the sale of LHCL.