Dialog Axiata Becomes Sri Lanka’s Most Valuable Listed Company

Dialog Axiata PLC, the country’s leading telecommunications service provider, reached a significant milestone yesterday (25) by becoming the largest listed company on the Colombo Stock Exchange (CSE) in terms of market capitalization. The company ascended to the top spot by overtaking John Keells Holdings (JKH), which had previously led the rankings. This shift followed a notable 7% surge in Dialog Axiata’s share price compared to the previous trading day on May 22. By the end of yesterday’s trading session, Dialog’s share price was recorded at Rs. 39.90. With 9.2 billion shares in issue, Dialog Axiata’s market capitalization was recorded at Rs. 367.09 billion. Meanwhile, the market capitalization for John Keells Holdings stood at Rs. 359.36 billion, while Ceylon Tobacco Company held the third position with a value of Rs. 341.91 billion. Other major players in the market include Commercial Bank, which ranks fourth overall and remains the most valuable banking entity on the exchange with a market capitalization of Rs. 320.88 billion. Rounding out the top tier of listed companies are: 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)