Japan’s Orix sells Sri Lanka LOLC stake for Rs.12.8Bn

Mar 28, 2018 (LBO) – Sri Lanka’s LOLC Holdings, a firm controlled by Deputy Chairman Ishara Nanayakkara has purchased a 30 percent stake held by Japan’s Orix group for 12.8 billion rupees, Wednesday.

The company bought 142,458,490 shares at 90 rupees per share, a company source said. The shares closed at  111.00 rupees on Tuesday.

The Orix Corporation in Japan held 142,560,000 shares (30%) in LOLC as at 31.12.17

Speaking to Lanka Business Online Group Managing Director Kapila Jayawardene said that LOLC will continue to focus on Asian countries and continue with its growth trajectory.

(UPDATED)