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JKH traded close to Rs2bn (US$11mn) worth of shares as trading neared the close for the day. The amount of shares traded today is close to 1% of the total outstanding shares of the company.
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The shares were traded at prices close to Rs160/share (the price at which the company has an open stock buyback offer).
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The market capitalisation of JKH sits close to US$1.2bn, and the stock is trading close to book value.
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For the last few months, JKH has seen foreign institutional selling to local buyers.
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For the most part, the local buyers have been Harry Jayawardena controlled Melstacorp, and the Captian family. Together these entities are speculated to already own over 25% of the total outstanding shares of Sri Lanka's most important company.
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