Galleon sheds DFCC

As expected, Raj Rajaratnam’s Galleon is winding up its Sri Lankan operations following its decision to liquidate the fund’s investments.
Last Monday, Galleon Diversified shed its 8.2% stake in DFCC Bank amounting to 10.8 million shares at Rs. 139-139.50.

Raj Rajaratnam

It is believed that Galleon has completely exited from Commercial Bank (COMB), Chemical Industries Limited Colombo (CIC) and Ceylon Leather Products (CLPL).
It is also widely speculated that Galleon Diversified has sold its stake in Hatton National Bank, which Galleon held through DB Trust Fund.
The only stakes that are believed to be with Galleon now are its stakes with Touchwood Investment Limited and National Development Bank.