14 hours Ago By Thilina Walpola
The CSE yesterday started off at a slow pace but later began to move in a positive direction due the oversubscription of an IPO launched by leading investment bank, Capital Alliance, market analysts said. It is said that Capital Alliance issued 157.5 million shares at Rs 10 per share to raise 1.
6 billion for the purpose of expanding its operations overseas and enhancing existing local operations. Capital Alliance Holdings Limited, has interests in bond trading, fund management, corporate finance and equity trading with operations in Sri Lanka and Bangladesh. The group is a primary dealer in government securities in Sri Lanka.
It has fund management units in Sri Lanka (Capital Alliance Investments Ltd) and in Bangladesh (CAL Investments Ltd).Capital Alliance Securities (Pvt) Ltd, is in equity trading in Sri Lanka and CAL Securities Ltd in Bangladesh. The All Share Price Index went up by 65.
2 points, while the S and P SL20 moved up by 25.2 points. Turnover stood at Rs 1.
67 billion with five crossings. Those crossings were reported in Union Bank, where 10 million shares crossed to the tune of Rs 105 million; its shares traded at Rs 10.50, HNB 248,000 shares crossed for Rs 72.
3 million and its shares traded at Rs 292, JKH 2.5 million shares crossed for Rs 50.5 million; its shares traded at Rs 20.
20 , Distilleries one million shares crossed to the tune of Rs 40 million; its shares traded at Rs 40 and Commercial Bank (Non- Voting) 200,000 shares crossed for Rs 22 million; its shares traded at Rs 118. In the retail market top companies that mainly contributed to the turnover were, RIL Properties Rs 170 million (10 million shares traded), Lankem Developments Rs 87.3 million (3.
9 million shares traded), Distilleries Rs 67.4 million (1.4 million shares traded), JKH Rs 55.
1 million (2.7 million shares traded), LB Finance Rs 51.4 million (544,000 shares traded) and Melstacope Rs 50.
2 million (375,000 shares traded). During the day 127 million share volumes changed hands in 14400 transactions. It is said that the banking and financial sector performed well, especially due to the Capital Alliance oversubscription, while the manufacturing sector performed well due to JKH.
Sri Lanka furniture manufacturer Damro Manufacturing had disposed of a 20.8 percent stake, constituting 32,500,000 shares, held in Agalawatte Plantations. “A & M Properties bought the shares at Rs 51.
90 each, amounting to 1.68 Rs billion. They had disposed of 32,500,000 shares (20.
8 percent of the total shares) held in Agalawatte Plantations PLC on the trading floor, Agalawatte said in its report to the CSE. Yesterday the US dollar buying rate was Rs 299.52 and selling price Rs 299.
47. By Hiran H.Senewiratne.
