Sri Lanka’s LOLC to continue growth path after Orix exit: Official
ECONOMYNEXT – Sri Lanka’s LOLC group will continue its growth path after the exit of Japan’s Orix, which had a 30 percent stake, Group Managing Director Kapila Jayawardene said.
LOLC will focus on micro-finance and growth with acquisitions in Asian markets, he said.
"I expect the growth trajectory to continue," Jayawadene said.
Orix sold its stake for 12.8 billion rupees to LOLC Holdings, privately held company controlled by Deputy Chairman Ishara Nayakkara taking 29.9 percent.
Orix had been a passive investor in the LOLC for many years.
The Orix stake was traded at 90 rupees, below the previous close of 111 rupees.
The stock was up 6.50 at 117.50 rupees in intra -day trading after the Orix deal. (Colombo/Mar28/2018)