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ECONOMYNEXT – The Colombo Stock Exchange recorded a 0.37 percent increase on Friday. SG Holdings, the parent company of Expolanka Holdings Plc, announced its decision to privatize Expolanka, the largest listed entity on the Colombo Stock Exchange.

Expolanka Holdings PLC disclosed its intention to delist from the Official List of the Colombo Stock Exchange following approval from shareholders and regulatory bodies, as stated in a filing after the Board Meeting on March 1, 2024.

Under the agreement with SG Holdings Global Pte Ltd, the majority shareholder, shareholders have the option to sell their shares at Rs 185.00 per share, although the share closed at 150.50.

The All Share Index concluded at 10,691, up by 0.37 percent or 39.47 points, while the S&P SL20 Index decreased by 0.64 percent, or 19.59 points, ending at 3,037.

Maintaining a streak of exceeding 1 billion, the turnover reached 1.4 billion for the sixth consecutive day.

Key transactions included Melstarcorp Plc (135mn) at 89.50, Hatton National Bank Plc (64mn) at 158.00, Hemas Holdings Plc (53mn) at 75.00, and Central Finance Company Plc (26mn) at 103.50, significantly contributing to the day’s turnover.

Market participants noted a persistent upward trend with increased retail activity, surpassing 10,000 trades today. Investors are actively seeking undervalued stocks for substantial investments. (Colombo/Mar1/2024)