New World Securities in a filling to stock exchange yesterday disclosed that Nimal Perera’s stake in People’s Merchant Bank (PMB) had increased to 10 percent with the acquisition of 3,013,100 ordinary voting shares.
Earlier on June 10, Emagewise’s Dilith Jayaweera made a surprising deal buying a 20% stake of Peoples Merchant Bank (PMB) from Ishara Nanayakkara led Lanka Orix Leasing Company. The deal was concluded at Rs.21 per share whilst Colombo stock investors aggressively bought PMB shares thereafter.
As a result, the stock rose as high as Rs.42 and finally closed at Rs.30.10 and caught up with regulators 10% price band.
However, later it was anticipated by several market sources that Dilith Jayaweera sold part of its stake whilst the stock price of PMB drastically fell to Rs.23 levels.
As at 31 March 2011, Lanka Orix Leasing Company PLC had 7.38 million (19.68%) shares of PMB as the second largest shareholder after People’s Bank’s 9.79 million (26.13%) ordinary voting shares. In addition, People’s Leasing Company Ltd has 4.89 million (13.07%) and Environmental Resources Investment PLC (GREG) 2.44 million or 6.5% ordinary voting shares of PMB.
source - www.dailymirror.lk
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