Dr. Senthilverl buys over 8% stake in Vallibel Power, US firm sells 21% stake
Wednesday, 5 November 2014 00:54
High net worth but low-profile investor Dr. T. Senthilverl yesterday acquired over 8% stake in Vallibel Power Erathna Plc for over Rs. 660 million as a longstanding foreign shareholder exited.
Vallibel Erathna saw 187.6 million shares changing hands via 1,505 trades for Rs. 1.245 billion. The number of trades confirms the retail and high net worth investor play on the stock.
Of the quantity traded 85 million shares and 74 million shares changed hands at Rs. 6.60. Dr. Senthilverl previously held 3.6 million shares in the company as at 30 September 2014.
The seller was longstanding shareholder Asia Energy Management Systems Inc, a US-based firm with interests in the power sector in Asia and the Middle East. It also enjoyed two board seats. As at 30 September 2014, Asia Energy held 160 million shares of 21.4% stake in Vallibel Power which is controlled by business leader Dhammika Perera with over 60% stake.