Billionaire businessman Raj Rajaratnam has shed close to 25 million shares of John Keells Holdings (JKH) stock by Wednesday afternoon, resulting in turnover soaring to Rs.5.1 billion by mid-day at the Colombo bourse, brokers said. JKH shares totaling 24.96 million were traded by around noon at a price range of Rs.179 to Rs.181 per share which works out to over Rs.4.4 billion.
A stock broker said he expects Mr. Rajaratnam to sell the rest of his stake in JKH which totaled 56 million or approximately 6% of JKH. He said the buyer is most likely foreign but could not confirm those details. Mr. Rajaratnam, a Sri Lankan, was arrested and indicted on insider trading charges in New York last year.
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A stock broker said he expects Mr. Rajaratnam to sell the rest of his stake in JKH which totaled 56 million or approximately 6% of JKH. He said the buyer is most likely foreign but could not confirm those details. Mr. Rajaratnam, a Sri Lankan, was arrested and indicted on insider trading charges in New York last year.
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