Diversified LOLC Holdings PLC today dethroned the long time top dog John Keells Holdings PLC (JKH) becoming the most valuable listed entity on the Colombo Stock Exchange (CSE) in terms of market capitalization.
As at today’s market close, LOLC’s market capitalization stood at 247.7 billion, higher than the Rs.225.8 billion market capitalization of JKH. LOLC’s market cap accounted for 6.44 percent of the total market cap.
Ceylon Tobacco Company PLC is the third highest market cap company on the CSE.
On Monday, LOLC joined the billion-dollar club, becoming the third company on the CSE with a market capitalization exceeding US $ 1 billion as per the current exchange rate.
LOLC share yesterday rose by Rs.104 or almost 25 percent to close at Rs.521.25, while JKH share fell by Rs.1.50 or 0.87 percent to close at Rs.171.25 percent.
LOLC Deputy Chairman Ishara Nanayakkara owns nearly 80 percent of the issued shares of the company.