brand logo

SEC calls for NIFL information from CSE

02 Jul 2021

  • Launches probe into unusual price movement of LOLC Development Finance

The Securities and Exchange Commission of Sri Lanka (SEC) said it is probing unusual price movement of shares of LOLC Development Finance (NIFL) and has already called for information from the Colombo Stock Exchange (CSE). “The SEC has also observed the unusual price movement of this share and has already called for information from the CSE. The SEC too is evaluating the manner in which transactions have taken place. We are analysing the trading patterns and behaviour of investors,” the SEC said in a statement. “We have also observed in some social media platforms that this share has been promoted. Therefore, we are presently trying to find out as to who has been involved in this process,” it added. The SEC said if it finds any market malpractice, stern action will be taken against those who have been involved. The share price of NIFL closed at Rs. 524.50 yesterday (1).


More News..