C.P. De Silva sells out from LOLC for Rs. 130 m

Monday, 4 November 2013 00:00 - - {{hitsCtrl.values.hits}}

Former Chairman and longstanding shareholder C.P. De Silva last week sold out of Lanka Orix Leasing Corporation PLC. Last week LOLC saw 3 million of its shares traded for Rs. 195 million before closing at Rs. 61, up by one rupee.

Among the quantity was a block of 2.8 million shares including 2 million shares held by de Silva and the balance by related parties done at Rs. 65 per share. The buyer was the new shareholder Dr. R.R. De Silva who as at end June held 0.8 million shares. With last week’s purchase Dr. De Silva is believed to have risen to top 10 shareholders of LOLC. Former Chairman De Silva was the 11th largest shareholder with 0.4% direct stake. Orxi Corporation of Japan owns 30% stake whilst the Nanayakkara family collectively controls over 53% stake.