Norges Bank and Union Assurance enter Aitken Spence top 20 shareholders list

Norwegian central bank, Norges Bank, and Union Assurance Life Fund have entered the top 20 shareholders of Aitken Spence Holdigns PLC, a diversified conglomerate controlled by business magnate Harry Jayawardena, during the quarter ended June 30, 2022 (1Q23).
As at June 30, 2022, Norges Bank through Citibank New York held 4.95 million Aitken Spence share amounting to 1.22 percent as the company’s nineth single largest shareholder, while the Universal Life Fund of Union Assurance held 1.45 million shares or 0.36 percent as the 20th single largest shareholder.

Finco Holdings, which is the 5th largest shareholder of Aitken Spence, also slightly expanded its holding during the quarter under review to 1.6 percent from 1.52 percent.
Meanwhile, SSBT Retail Employees Superannuation Trust and K.N.J. Balendra exited the top 20 shareholders list of Aitken Spence during 1Q23.
On August 31, Renuka Hotel Ltd., which was the 7th single largest shareholder of Aitken Spence with 5.48 million shares or 1.35 percent divested its entire shareholding in the company in a Rs.950 million deal.

According to market sources, the buyer was a foreign institutional investor.  For 1Q23, Aitken Spence reported earnings of Rs.14.41 per share or Rs.5.8 billion compared to a loss per share of 60 cents or net loss of Rs.245.5 million on revenue of Rs.21 billion, sharply up from Rs.8.5 billion a year ago.