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Malaysia’s sovereign fund Khazana Nasional Berhad Malaysia has increased its stake in John Keells Holdings to near 10% last week.
Via its Special Purpose Vehicle (SPV) Broga Hill Investments Ltd., Khazana bought 10 million shares or 1.16% stake in JKH for Rs. 2.65 billion adding to existing shareholding of 74.6 million shares or 8.7%. It also bought a further 90,000 shares for Rs. 24 million.
In March last year Khazana bought over 8% stake in JKH for Rs. 14.5 billion.
The seller was Janus which has been gradually shedding part of its stake of late. As at 31 March 2013, Janus Overseas Fund which sold 10 million shares on Thursday had 10.1% stake whilst Janus Aspen Series Overseas Portfolio Fund had 2.1% stake. Janus Emerging Market Fund also sold 90,000 shares.
Despite shakedown in Asian equities, foreign investors remained stable with regard to Lankan equities. The fresh investment by Khazana helped.
Last week the year-to-date net foreign inflow remained at Rs. 16 billion. Distilleries saw net buying of 1 million shares worth Rs. 210 million with Deutsche Bank AG on the buying side whilst other stocks which saw net foreign buying were JKH, NDB, Haycarb, HNB, Overseas Realty and Expolanka though relatively smaller in value.
Commercial Bank saw the highest net foreign selling worth Rs. 137.5 million whilst high net-worth investor Indra Silva picked up Rs. 325 million worth of COMBank shares from exiting foreign investors.
http://www.ft.lk/2013/06/24/malaysias-sovereign-fund-khazana-at-near-10-stake-in-jkh/
Via its Special Purpose Vehicle (SPV) Broga Hill Investments Ltd., Khazana bought 10 million shares or 1.16% stake in JKH for Rs. 2.65 billion adding to existing shareholding of 74.6 million shares or 8.7%. It also bought a further 90,000 shares for Rs. 24 million.
In March last year Khazana bought over 8% stake in JKH for Rs. 14.5 billion.
The seller was Janus which has been gradually shedding part of its stake of late. As at 31 March 2013, Janus Overseas Fund which sold 10 million shares on Thursday had 10.1% stake whilst Janus Aspen Series Overseas Portfolio Fund had 2.1% stake. Janus Emerging Market Fund also sold 90,000 shares.
Despite shakedown in Asian equities, foreign investors remained stable with regard to Lankan equities. The fresh investment by Khazana helped.
Last week the year-to-date net foreign inflow remained at Rs. 16 billion. Distilleries saw net buying of 1 million shares worth Rs. 210 million with Deutsche Bank AG on the buying side whilst other stocks which saw net foreign buying were JKH, NDB, Haycarb, HNB, Overseas Realty and Expolanka though relatively smaller in value.
Commercial Bank saw the highest net foreign selling worth Rs. 137.5 million whilst high net-worth investor Indra Silva picked up Rs. 325 million worth of COMBank shares from exiting foreign investors.
http://www.ft.lk/2013/06/24/malaysias-sovereign-fund-khazana-at-near-10-stake-in-jkh/
