Sri Lanka’s LOLC Holdings plans to sell stake in Cambodian unit

Photo: Reuters

LOLC Holdings Plc, Sri Lanka’s second-largest publicly traded company by revenue, plans to sell its stake in a unit in Cambodia and use the proceeds to fund the acquisition of microfinance firms in emerging markets from Brazil to India.

LOLC Holdings plans to sell its 70% stake in Prasac Microfinance Institution Ltd., which also counts Hong Kong’s Bank of East Asia Ltd. as a shareholder, LOLC’s Deputy Chairman Ishara Nanayakkara said. He declined to disclose pricing details.

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