US-based Wasatch Funds was believed to have bought 10 million shares of Peoples Leasing & Finance PLC yesterday.
The shares were traded in two crossings - 9.2 million shares and 800, 000 shares-each at Rs.25.50.
Unconfirmed market sources said the seller of the shares was high net worth investor Indra Silva, the third single
largest shareholder with a 3 percent stake.
As at December 31, 2014, Wasatch Frontier Emerging Small Countries Fund held 24.75 million shares or 1.57 percent of Peoples Leasing while Wasatch Frontier Emerging Small Countries CIT Fund held 3.43 million or 0.22 percent.
Wasatch bought all these shares during the December quarter. The main seller appeared to be Employees’ Provident Fund.
Wasatch, through its frontier market focused funds, had invested over US $ 114 million in leading Sri Lankan businesses during the past year.