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Thursday, February 10, 2011

EPF back in Bourse; buys 1% of COMBank for Rs. 1 b

Unruffled by Opposition criticism against its aggressive play in the Colombo bourse the Employees Provident Fund (EPF) yesterday returned to the market in a big way picking up 1% stake in biggest and most profitable financial services firm Commercial Bank for Rs. 1.08 billion.

The stake amounting to 3.9 million shares was done at Rs. 277 each. In total COMBank saw 4.13 million shares traded between a high of Rs. 278 and a low of Rs. 277, before closing at Rs. 277.10 down by Rs. 1.80. COMBank accounted for the highest turnover of Rs. 1.14 billion yesterday.

EPF bought the shares from foreign investors. As at 30 September, 2010, EPF held 4% stake in Commercial Bank amounting to 13.85 million shares. Apart from EPF, SLIC holds 10% stake in Commercial Bank.

SLIC on Tuesday picked up nearly 500,000 shares of Lanka Walltiles at Rs. 170 per share.
Another state institution NSB yesterday bought 730,000 shares of Royal Ceramics at Rs. 161 each in a deal worth Rs. 117.5 million.

source - www.ft.lk