Senthilverl Holdings increased its stake in Lee Hedges PLC to 10.10% (2,584,777 shares) after buying 103,480 shares on 19 Jan at Rs.247.75–255. Lanka Realty Investments, acting with Eighth Wonder, has made a mandatory offer for 28.9% at Rs.216 and combined holdings now total 71.1%.
ASPI rose 0.03% (7.45 pts) to 23,813.77 while the S&P SL20 slipped 0.02% to 6,617.85; turnover was Rs.8.3 billion and foreigners were net sellers with a reported net outflow of Rs.144.6 billion. Top contributors included HNB, DFCC, UML, RICH and ASCO, with DOCK, HAYL and SFCL dragging the index.
Lanka Realty Investments PLC (ASCO) announced it has acquired a controlling stake in Lee Hedges PLC (SHAW) in a Rs. 4 billion transaction, adding Lee Hedges' ~Rs. 1.76bn in cash and boosting LRI's recurring income and balance-sheet strength.
Lanka Realty Investments (ASCO.N0000) acquired a 51% stake in Lee Hedges (SHAW.N0000), buying 13,057,595 shares at Rs216 each. Lanka Realty closed down Rs1 at 46.10 and Lee Hedges closed up Rs23 at 254.
Lanka Realty Investments PLC said its subsidiary On'ally Holdings commissioned Sri Lanka's largest outdoor LED display at Unity Plaza after investing up to Rs. 200 million, with management projecting about Rs. 150 million in additional annual revenue.
Colombo Stock Exchange rebounded as the ASPI rose 0.39% (88 pts) to 22,777.12 with turnover around Rs 5.38bn and foreign investors net sellers of Rs 372.5m. Key movers included Windforce (+17.6%), Colombo Dockyard (-9.9%) and gains in LAUGFS Gas and Lanka Realty Investments.
Colombo market fell for a third straight session, with the ASPI down 0.44% to 22,689.22 and the S&P SL20 down 0.84%; turnover was Rs. 6.19bn and foreigners were net sellers of Rs. 42.48m. Major movers included declines in JKH, SFCL and SAMP, while DOCK, COLO, ASCO and LGL posted notable gains.
Colombo Stock Exchange closed down as the ASPI fell 0.44% to 22,689.22 with turnover Rs6.19bn. Top contributors included Colombo Dockyard, Ceylinco Holdings, Vidullanka, Lanka Realty Investments and C M Holdings, and several energy names (eg. Vidullanka, WindForce) saw investor interest.
Lanka Realty Investments PLC appointed Sarravanan Neelakandan as Chairman of the Board. He is an attorney and barrister with extensive legal experience and holds directorships including On'ally Holdings PLC.
LAUGFS Gas and LAUGFS Power shares surged (LAUGFS Gas voting +65.42% to Rs.66.50; LAUGFS Power non-voting +63% to Rs.14.20) after reports of a 50:50 partnership with Vallibel Three (Dhammika Perera). Meanwhile the ASPI fell 0.4% to 20,906 with declines led by HNB, COMB, DFCC, CINS and JKH; turnover leaders included RIL, CTHR and EBCR.
Lanka Realty Investments (ASCO) divested Baseline Holdings for Rs.1.1bn and secured a Rs.1.21bn equity infusion into Lanka Realty Developments, together reducing borrowings by about Rs.1.7bn (≈35%). The infusion gives Eighth Wonder a 49% stake in the subsidiary, settled over Rs.1bn of debt and will fund HQ Colombo upgrades to boost rental income.
Colombo bourse hit a new high as the ASPI closed at 19,044, up roughly 70–77 points while the S&P SL20 fell about 8 points; turnover was around Rs.5.3–5.4bn and net foreign outflow stood at Rs.121.4m.
The All Share Price Index rose 0.37% to 19,044 while the S&P SL20 fell 0.15% to 5,646; turnover was 5.3 billion rupees and DFCC, Central Finance, Co-operative Insurance, C T Holdings and Lanka Realty Investments were notable gainers.
Colombo market gained further momentum as the ASPI rose 1.15% (183.5 pts) with turnover of Rs. 4.5 billion led by heavy trading in John Keells, Lanka Realty, Commercial Bank, LOLC Holdings and Sampath Bank. Separately, Lanka IOC announced a first and final dividend of Rs. 5 per share.