Dharmadasa Jr. sells entire stake in Nawaloka Hospitals

Wednesday, 9 March 2011 00:40 - - {{hitsCtrl.values.hits}}

Shareholder director Harshith Dharmadasa has sold out his personal stake amounting to 2.3% in Nawaloka Hospitals for Rs. 150 million.

The stake amounting to 33.3 million shares were divested on Monday at Rs. 4.50 per share. His block was part of 62 million shares of Nawaloka which got traded for Rs. 279 million. Of that over 3% was bought by Dr. T. Senthilverl for Rs. 225 million thereby increasing his stake to 10.8%. Harshith has been a director of Nawaloka Hospitals since 2000 and it couldn’t be confirmed whether he would remain on the Board following the sell out.

Despite the divestiture, Nawaloka Group and family members continue to hold a controlling 64% stake.

He has 15 years of experience in Executive Management and is the Managing Director of Nawakrama Ltd, in addition to holding directorship in several Nawaloka Group companies.