Colombo Dockyard, which is to be acquired by India’s Mazagon Dock Shipbuilders Limited through an injection of capital, said the Rs 12.9 billion exercise would be delayed.
Company sources said that the revised timelines would be notified after they receive the requisite regulatory approvals.
Colombo Dockyard is planning to offer 323 million shares at Rs 40 to existing shareholders and the current controlling shareholder Onomichi of Japan will renounce its entitlement in favour of India’s Mazagon Dock Shipbuilders Limited.
Meanwhile, yesterday the CSE crossed the 21000 point mark for the first time in its history.
The development was attributable to local and foreign investor sentiment being high due to conducive macroeconomic conditions prevailing for the stock market to move.
Amid those developments both indices moved upwards. The All Share Price Index went up by 201.03 pound points while the S and P SL20 rose by 41.14 points. Turnover stood at Rs 7.39 billion with ten crossings.
Top seven crossings were; HNB 685,000 shares crossed to the tune of Rs 234 million; its shares traded at Rs 400, Keells Hotels 3.6 million shares crossed for Rs 90 million; its shares traded at Rs 25, Sunshine Holdings 2.4 million shares crossed to the tune of Rs 73 million; its shares traded at Rs 30.50, Central Finance 170,000 shares crossed for Rs 48.5 million; its shares traded at Rs 285, Lanka IOC 300,000 shares crossed for Rs 40.5 million; its shares traded at Rs 135,Tokyo Cement (Non-Voting) 439,000 shares crossed for Rs 34.7 million; its shares sold at Rs 79 and Three Acre Farm 640,500 shares crossed for Rs 34 million; its shares traded at Rs 330.
In the retail market top seven companies that mainly contributed to the turnover were; LBL Energy Fund Rs 562 million (48 million shares traded), Prime Lands Rs 336 million (14 million shares traded), Keells Hotels Rs 234 million (9.4 million shares traded), JAT Holdings Rs 175 million (4.1 million shares traded), Maravila Resorts Rs 162 million (20 million shares traded), Associated Motor Finance Rs 150 million (1.5 million shares traded) and JKH Rs 134 million (5.8 million shares traded). During the day 389 million share volumes changed hands in 54000 transactions.
It is said that mixed market behavior was noted. The banking, manufacturing and real estate sectors performed well.
Yesterday, the rupee opened slightly weaker at Rs 302.34/40 to the US dollar in the spot market, from Rs 302.23/40 the previous day, while bond yields were up, dealers said.
A bond maturing on 15.09.2027 was quoted at 8.60/70 percent, up from 8.55/62 percent.
A bond maturing on 15.12.2028 was quoted at 9.00/10 percent.
A bond maturing on 15.12.2029 was quoted at 9.45/55 percent, down from 9.45/59 percent.
A bond maturing on 15.12.2032 was quoted at 10.30/35 percent, up from 10.28/32 percent.
(Hiran H. Senewiratne – The Island)
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