Market turnover tops Rs. 9bn after major Commercial Credit deal

Daily turnover of the Colombo Stock Exchange surpassed the Rs 9 billion limit during the initial phase of trading today (06).

A massive share transaction reported from Commercial Credit and Finance PLC, a listed financial company in the country, was the reason for this, and by around 10:40 a.m., 86.88 million of its shares were traded at Rs 100.50 each, recording a turnover of Rs 8.73 billion.

According to reports, GROUP LEASE HOLDINGS PTE LTD, the leading shareholder of Commercial Credit and Finance PLC, sold its shareholding today (06). GROUP LEASE HOLDINGS PTE LTD is a company subject to liquidation, and as of 30 June, they held 95.39 million shares of Commercial Credit and Finance PLC, representing 29.99% of the total share capital.

It was significant that the All Share Price Index had risen by more than 100 units by that time.