All eyes on JKH

BOURSE: John Keells Holdings (JKH) share price moved up further ahead of the much awaited rights issue helping the indices to move up further with a large quantity of shares being traded.

JKH share price moved up to Rs.222.25 increasing by Rs.6.25 from the last weeks close as their was buying frenzy before it becomes ex-rights tomorrow. The Company earlier announced that its planning to raise Rs.12 billion through the rights issue at Rs. 140 per share.

Over five million JKH shares traded yesterday and the majority of the trades came in the form of foreign to foreign crossings.

The All Share Price Index closed at 2,921.39 points gaining 10.47 points and the Milanka Price Index gained by 14.48 points to close at 4,069.58 points. The turnover was Rs. 1.4 million.