LOLC part sells PickMe stake; Tundra buys

LOLC Group yesterday sold part of its stake in Digital Mobility Solutions Lanka PLC or PickMe whilst medium to longterm foreign fund Tundra stepped up buying.

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PickMe dominated turnover with Rs. 1 billion involving 23.4 million shares. The LOLC subsidiary sold the majority. As at 30 June 2025, as third largest and founder shareholder, it held 31 million shares or 9.33%. Analysts speculated LOLC sold between 20-25 million shares.

Among buyers were the Tundra Fund. The share price closed at Rs. 132.75, up by 50 cents. PickMe saw 23.4 million shares traded for Rs. 3 billion.

The other major turnover contributor was Hatton Plantations with Rs. 580.7 million involving 19.35 million shares. Among buyers were high net worth investors.

Apart from these deals the market closed negatively though on high turnover.

The benchmark ASPI and active S&P S120 were down by 1%. Turnover was Rs. 9 billion involving 237.5 million shares.