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Wednesday, March 23, 2011

Subasinghe and Co. up Ceylinco Insurance stake

In two crossings, shares of Ceylinco Insurance amounting to nearly 2.2 million changed hands on the Colombo bourse board yesterday, at an average price of Rs.740, contributing Rs.1.8 billion to the day’s turnover.

The sellers were believed to be both foreign and local, while unconfirmed reports said buyers were P.Subasinghe-owned Global rubber Industries Limited and Global Sea Foods Limited.

Earlier on February 8, John Keells Stock Brokers said their client Prabhash Subasinghe-owned Global Rubber Industries Ltd. and Global Sea Foods Ltd increased Ceylinco Insurance stake to 11.5%,

becoming the single largest shareholding group outside the Ceylinco umbrella. The top shareholders of Ceylinco Insurance are Ceylinco tycoon Lalith Kotelawala founded private firm Ciesot Ltd (23.54%) and Pictet and Cie which owns 10.68%.

source - www.dailymirror.lk