Sri Lanka Hotel Services shares traded heavily

Mar 12, 2010 (LBO) – Large parcels of Hotel Services (Ceylon), owners of Hotel Ceylon Continental, changed hands in early trade on the Colombo bourse Friday amid speculation its owner businessman Nahil Wijesuriya was selling out. The trades pushed turnover on the bourse to over two billion rupees by mid-morning, brokers said. The indices also rose.

About 90 million shares changed hands in several large blocks at 21 rupees each.

On Thursday, Hotel Services (Ceylon) had closed at 21 rupees, up one rupee, with over four million shares traded, including two blocks of 500,000 at 20 rupees a share.

Wijesuriya has said he was looking for a buyer for the hotel, on prime property in the heart of the capital Colombo.

Brokers said there was speculation that either the Hayleys group or businessman Dhammika Perera, chief of the investment promotion agency, was interested in buying the hotel.