Citigroup Global Markets Ltd takes 10.76% JKH stake from Broga Hill Investments

January, 9, 2020

The Citigroup Global Markets Limited has purchased the entire stake from Broga Hill Investments, the stockbroker firm CT CLSA Securities (Pvt) Ltd which facilitated the transaction, said in a stock exchange filing today (9).

Accordingly, The Citigroup Global Markets Limited has acquired 141,854,717 shares of John Keells Holdings, at Rs.160.00 per share, representing 10.76 percent of the issued share capital of John Keells Holdings.

Citigroup Global Markets Limited which serves clients worldwide, offers treasury, wealth management, and trade financing, as well as private, retail, and corporate banking services.

Broga Hill Investments Limited held the second-largest stake in John Keells Holdings PLC, behind Sohli Captain’s 11.4 percent.

Malaysia’s sovereign wealth fund Khazanah Nasional Berhad, Broga Hill Investment Limited had entered Sri Lankan conglomerate John Keells Holdings (JKH) in 2012, buying an 8.8% stake for 366 million ringgit ($119.71 million).

The trade marked the second-highest turnover in history, after Sri Lanka Telecom share transaction for Rs.32 billion in 2008.