Foreign Shareholders Shed Almost 15% Stake From Lanka Realty Investments. 
Posted 29,November

By Chaveendra Dunuwille

In Local News

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The Controlling Foreign Shareholders of Lanka Realty Investments, formerly Ascot Holdings, reduced their shareholding by almost 15% via a net foreign sale estimated at LKR 794 million. 

Previously, 80% of the LRI stake was held by foreign investors, with Managing Director Hardy Jamaldeen controlling 15%. 

More than 39 million LRI shares changed hands in 3284 trades generating a turnover of LKR 994.5 million. 31.3 million of the shares traded were held by the controlling foreign shareholders. 

Foreign stakeholders of LRI included Northern Trust Company S/A Ian McVeigh, P. Morgan, Eight Wonder, T.C. Smith, and A.J.B. Warman, who each held a controlling interest of 13.29%, 11.31%, 10.58%, 5.26%, and 4.58%, respectively. As of 30th September, the company’s public float was around 10.6% divided among 1729 public shareholders, with a market capitalization of LKR 674.1 million. 

The company reported a loss of LKR 59.1 million for a revenue of LKR 173.29 million which is a diluted loss per share of 28 cents.