September 8, 2022 (LBO) - The parent of Expolanka (EXPO), SG Holdings, continues to scoop up shares in Sri Lanka's largest market cap company.
The previous trading session on Wednesday witnessed foreign buying in the shares of EXPO amounting to approximately Rs2bn. Most of the shares were traded close to market prices at Rs225/share. Although Colombo Stock Exchange disclosures have yet to be published, sources claim that this buying was done by SG Holdings.
EXPO recently paid out a divided of over Rs8/share. SG holdings would have received proceeds in excess of Rs10bn from this dividend.
Sri Lanka’s economy has stabilised after the Parliamentary election of new President Ranil Wickremesinghe. The government recently concluded a staff level agreement with the IMF with proceeds of the deal expected towards year end.