The story
LOLC was originally founded as Lanka ORIX Leasing Company (LOLC) which then grew into the LOLC Group. As diversification and growth continued LOLC became a holding company.
By 2019/20 LOLC was among the most profitable companies in Sri Lanka but adopted a strategy of aggressive expansion without paying dividends to fuel overseas expansion in Cambodia, Myanmar, Pakistan, Philippines, Indonesia, Nigeria and Zambia.
In January 2021 the market capitalization of LOLC Holdings exceeded $1Billion.
LOLC using its Browns Investments PLC also became the partner of China Harbour Engineering Company Limited for the development of the Colombo International Financial Center Mixed Development Project. Becoming the first major local investor in the megaproject.
From Wikipedia’s article on LOLC Holdings, shared under CC BY-SA 4.0.4