Dialog Axiata PLC, the foremost telecommunications provider in Sri Lanka, achieved a remarkable accomplishment on the 25th of this month by securing its position as the largest publicly traded company on the Colombo Stock Exchange (CSE) based on market capitalization.
The company ascended to this leading position by surpassing John Keells Holdings (JKH), which had previously held the top rank. This change followed a significant increase of 7% in Dialog Axiata’s stock price compared to its value on May 22. By the close of trading yesterday, Dialog’s shares were valued at Rs. 39.90.
With a total of 9.2 billion shares outstanding, Dialog Axiata’s market capitalization was reported at Rs. 367.09 billion. In contrast, John Keells Holdings had a market capitalization of Rs. 359.36 billion, placing it in second place, while Ceylon Tobacco Company occupied third place with a valuation of Rs. 341.91 billion.
Among other significant entities in the market, Commercial Bank ranks fourth overall and remains the most valuable banking institution on the exchange, boasting a market capitalization of Rs. 320.88 billion. The list of leading companies is completed by:
- LOLC Holdings (Rs. 268 billion)
- Distilleries Company of Sri Lanka (Rs. 261 billion)
- Melstacorp (Rs. 218 billion)
- Hayleys (Rs. 189 billion)
- Hatton National Bank (Rs. 185 billion)
Source: Financial Chronicle Biz English | Sri Lanka Business News.
