State-owned EPF buys LKR495m worth of Dialog Axiata shares

21 May 2019

Sri Lanka’s state-run private sector pension fund, the Employees’ Provident Fund (EPF), has reportedly purchased approximately 55 million shares in domestic mobile operator Dialog Axiata for a total consideration of LKR495 million (USD2.83 million). The Mirror Business newspaper reports that the sellers of the shares are all believed to be international investors and that at 31 March 2019 the EPF held 180.7 million, or 2.22%, of Dialog Axiata shares, making it the second largest shareholder after the Malaysian parent, Axiata Investments (Labuan) Limited, which had over 6.7 billion (83.32%) of the issued shares of the company at that date.

Sri Lanka, Dialog Axiata