SG Holdings picks up 10 m of Expo shares

SG Holdings is estimated to have collected 10 million shares of Expolanka Holdings PLC since early August for around Rs. 2 billion.

The stake amounts to a mere 0.6% but SG has been mopping up available quantities. The buying was stepped up last week with 2.7 million bought on Friday.

SG’s move has bolstered net foreign inflow to the Colombo bourse as well whilst providing liquidity for local shareholders.

As at end-June, SG Holdings held 75.62% stake in Expolanka. It had 25,248 public shareholders with 25.25% stake