September 5, 2022 (LBO) - SG Holdings, the parent company of Sri Lanka's largest listed company Expolanka, has aggressively bought shares of (EXPO) during the past few days.
According to discosures at the Colombo Stock Exchange (CSE), SG holdings has over the last few days bought over Rs1bn worth of shares of EXPO at market prices of Rs213-225 per share.
The buys are the first significant foreign investor inflows into the CSE in some time. EXPO recently paid out a divided of over Rs8/share where SG holdings would have received proceeds in excess of Rs10bn.
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.