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Dhammika returns to market; buys Nahil-founded East West for Rs. 3.2 b
Daily FT
|July 09, 2025
Picks up 107 m shares at Rs. 30.20 each; majority of Wijesuriya family members sell out
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■ Dhammika says acquisition was on future upside of both company and its businesses
■ East-West's core business is in real estate development among others; post Dhammika takeover share price jumps by 22%
BUSINESS leader Dhammika Perera yesterday returned to the market buying control of East-West Properties PLC-founded by tycoon turned philanthropist Nahil Wijesuriya for Rs. 3.2 billion.
Buying under his Dhammika Perera name as he once used to, Dhammika picked up 77.4% stake or 107 million shares of East West at Rs. 30.20 each via four crossings. The acquisition by Dhammika saw the share price of East West jump by 22.3% or Rs. 5.80 to close at Rs. 31.80. Overall, East West Properties saw 115.477 million of its shares change hands via 1,726 trades for Rs. 3.488 billion.
All major shareholders have sold out to Dhammika.
This story is from the July 09, 2025 edition of Daily FT.
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