Media mogul Raynor Silva, who recently became the second-largest shareholder of Sampath Bank through his investments, has acquired a 5 percent stake in Seylan Bank, becoming a major shareholder in the bank.
According to the Daily Financial Times (Daily FT), citing stock market sources, Silva purchased 15 million voting shares of Seylan Bank at Rs. 105 per share, with the total value amounting to Rs. 1.57 billion. The shares were reportedly those sold by business tycoon Dhammika Perera.
In total, 16.68 million shares of Seylan Bank were traded for Rs. 1.76 billion through 300 transactions. The share price increased by one rupee to close at Rs. 110 yesterday.
Silva, the owner of the Hiru Media Network, made his investment in Sampath Bank through his company, Panthom Investments, and now holds a 10 percent stake, making him the bank’s second-largest shareholder after Valibel One, which is controlled by Dhammika Perera.
In addition, Raynor Silva holds a 9.73 percent stake in DFCC Bank and has recently acquired 1 percent of Commercial Bank.
