Oct 10, 2011 (LBT) - - Sri Lanka’s largest private sector retirement fund Employment Provident Fund (EPF) today purchased a 10% stake in the “Laugfs Gas Plc “,Superintendent of the EPF of the Central Bank Mrs. Rupa Deerasinghe told LBT.
The fund had purchased 33 Million shares of " Laugfs Gas Plc " at a value of 48 rupees per share (total 1584 million rupees ) to obtain a approximately 10% stake in the listed petroleum establishment , she said.
“Laugfs Gas Plc is a fundamentally strong company. Our EPF Fund management had recommended us to buy this share within the range of 48 rupees. EPF now controlling 17% (57.82 million shares) of the company “.
A major share of the Employment Provident Fund (EPF) (92%) has been invested in government securities, while the Fund has invested 7% of its resources in equities and 1% in debt instruments of corporates.
The Fund, reached Rs. 976 billion, recording an annual growth of 4.6%, said the Central Bank of Sri Lanka.
Last edited by mark on Mon Oct 10, 2011 9:00 pm; edited 1 time in total (Reason for editing : added the details of the link)