Asian Alliance Insurance Plc yesterday bought Rs. 34 million worth of HNB shares held by its Chairman Ashok Pathirage.
HNB saw around 228,000 of its voting shares trading for Rs. 35 million between a high of Rs. 144.90 and a low of Rs. 142 before closing at Rs. 142, down by Rs. 2.80. It was the third largest contributor to turnover. A block of 218,577 shares was done at Rs. 154.90, above Rs. 10 from market levels via a crossing.
Pathirage-controlled Softlogic Group owns a 95% stake in Asian Alliance. The acquisition by Asian Alliance is believed to be part of its investments into listed equities. In 2011, Asian Alliance’s investment in quoted shares was Rs. 469 million at market value and included 27,00 shares in HNB.
source - www.ft.lk
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