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Thursday, August 18, 2011

EPF ups stake in Vallibel One to 2%

The biggest fund, the EPF, is estimated to have bought around 10 million shares of diversified Vallibel One Ltd. (VOL) yesterday for Rs. 300 million from high net worth investors.

Slightly over 15 million shares of VOL traded yesterday for Rs. 451 million. Of the quantity, nearly 10 million shares changed hands via crossing at Rs. 30 each.

Sources said that EPF was the main buyer and speculated its stake in VOL could be slightly over 2% or 25 million shares as it had been collecting available quantities.

Sellers included high net worth investors Indra Silva (around seven million shares) and VOL Executive Deputy Chairman Nimal Perera (around three million shares).

Deals on VOL accounted for the second largest turnover yesterday. Since listing on 8 July, foreign holding in VOL has increased from 194,035 shares to 2.08 million. VOL’s number of shares in issue is 1.086 billion.

source - www.ft.lk