Companies headed by Mr. Ravi Thambiayah (Renuka Hotels, Renuka City Hotels PLC, Cargo Boat Development PLC etc.) have acquired a sizable stake in the DFCC Bank into which entities controlled by Mr. Ajita de Zoysa bought around two million shares.
EC Global, another big fund invested in Sri Lanka has completely exited DFCC by recently selling 2.6 million shares at Rs. 135 and HNB by selling 7.25 million shares at Rs. 162. In May this year, after the military overcame the LTTE, this fund sold 10% of NDB (8.1 million shares), broking sources said.
Brown and Co. PLC, which held a sizable stake in HNB, has been selling out making substantial capital gains, well informed sources said.
source - www.island.lk
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