Ceylon Capital Management buys 23 m shares in Browns Investments

Thursday, 24 April 2025 00:00 - - {{hitsCtrl.values.hits}}

Ceylon Capital Management Chairman Amila Mahesh Basnayaka

Says strategic expansion backed by visionary outlook on future of Sri Lanka’s capital markets

Ceylon Capital Management (CCM), led by entrepreneur Amila Mahesh Basnayaka as Chairman, has acquired 23 million shares in Browns Investments PLC, further cementing its status as a major force in the country’s investment landscape.

Over the recent trading sessions, Basnayaka strategically increased his stake in Browns Investments by purchasing an additional 19 million shares at market prices ranging from Rs. 6.80 to Rs. 7.30 per share. This sizable investment of approximately Rs. 134 million raised CCM’s total holdings to 23 million shares, highlighting long-term confidence in Browns’ value trajectory and growth prospects. The quantity amounts to 0.17% stake in BIL and puts CCM among the top 15 shareholders.

CCM said as a dynamic subsidiary of the LOLC Group, Browns Investments PLC spearheads strategic investments across plantations, agriculture, leisure and travel, construction, manufacturing, and real estate. With a strong focus on enhancing its core holdings and pursuing calculated acquisitions, the company continues to expand LOLC’s presence across vital sectors of the economy.

Browns Investment’s major shareholding in Hatton National Bank highlights its long-term strategy to align with top-performing institutions that promote economic growth and financial inclusion.

For the nine months ending December 2024, Browns Investments PLC reported a total profit of Rs. 47.57 billion—up 117% from the previous year. Earnings per share was recorded at Rs. 3.31, marking a 116% increase year-on-year. Additionally, the Net Asset Value per share was recorded at Rs. 12.07.

The company’s diversified operations span across several key sectors, including leisure and travel: Eden Hotel Lanka PLC, Dolphin Hotels PLC, Hotel Sigiriya PLC, Excel World; agriculture: Hapugastenne Plantations PLC, Udapussellawa Plantations PLC, Browns Plantations Kenya, and the strategic acquisition of Lipton; and engineering and construction: Colombo Port City through the construction of The Colombo Marina, Browns Metal and Sands, and Sierra Cables.

This acquisition reflects the culmination of a journey that began in 2019, when Basnayaka began personally accumulating shares in Browns Investments. Over six years, his disciplined and methodical strategy has matured into a sizable institutional presence through CCM.

CCM is not limited to equities. Under Basnayaka’s leadership, the company has diversified into high-growth sectors that align with Sri Lanka’s and the region’s future economic landscape, such as hospitality: Wellness Ceylon Global Ltd., focused on luxury wellness tourism; traditional healing: Seth Siri Arana Global Ltd., promoting Ayurveda and meditation; tourism: Unithinc International Ltd., curating immersive Sri Lanka–Maldives travel experiences; automotive solutions: CBN Group Ltd., meeting demand for quality vehicles, and real estate: Total Trust Global Ltd., facilitating sustainable property development. Each venture contributes to a cohesive long-term strategy of creating sustainable value across multiple industries and borders, according to Basnayaka.

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