High net worth individual investor Imtiaz Buhardeen has increased his stake in Ambeon Holdings PLC (GREG) to 10%, becoming the second largest shareholder. 

He crossed the 10% threshold on Friday when he picked up 4.6 million shares at an average price of Rs. 33.87. Consequently, Buhardeen-owned Almas Organisation Ltd. holds 32.6 million shares and subsidiary Carlines Holdings Ltd. owns a further 3.13 million, bringing the total to 35.75 million. As of 31 March, Buhardeen held 3.6% stake. Buhardeen also has stakes in Amana Bank, Expolanka Holdings, Laugfs Gas & Power, Malwatte and Kahawatta Plantations, Renuka Holdings, Kalamazoo, Sierra Cables, Kelani Cables, SLT and Singhe Hospitals.

Ambeon Capital holds an 81.4% stake in GREG. Ambeon Capital is controlled by CHC Investment of Sanjiv Gardiner and ARRC Capital of Ajit Devasurendra.

Ambeon Holdings yesterday closed at Rs. 37, up by Rs. 3.20 or 9.5%, with 3.6 million shares changing hands via 1,411 trades for Rs. 131.3 million. 

Ambeon Holdings was the second gainer percentage wise last week up 18% (or Rs. 5.10), while its parent Ambeon Capital topped the list with a near 20% (Rs. 7.60) gain. Ambeon Holdings saw 15.4 million of its shares change hands via 4,050 trades for Rs. 501 million last week.

Subdued start for stock market in fresh week