The seller on Monday was Palace Path Holdings (Pvt) Ltd, which owed 97 million shares of 19.4 percent by March 2011.
Emagewize has recently bought into Colombo Land, the owners of a shopping complex. It also controls Citrus Leisure, a hotel firm.
Some Colombo Land stock was later bought by a Citrus unit.
A block trade of 76.6 million took place at 6.00 rupees.
Panasian Power traded as high as 7.70 rupees in intra day trade.