Prime Lands exits HNB Finance with Rs. 3.5 b sale; Rayynor enters

Wednesday, 3 June 2026 00:28 - - {{hitsCtrl.values.hits}}

Prime Lands Chairman B. Premalal

Prime Lands Ltd., has exited HNB Finance PLC selling 23.29% stake for

Rs. 3.5 billion.

The stake amounted to 400 million shares and was done at Rs. 8.80 each.

Among the buyers were electronic media baron Rayynor Silva›s Phantom Investments picking up 5.82% stake. The remaining shares were disposed of to the market by Prime Land.

HNB yesterday closed at Rs. 9.20, up by 10 cents. HNB Finance had its highest voting share price of Rs. 10.90 in the quarter ended on 31 March 2026 and the lowest of Rs. 7.50 before closing at Rs. 8.80.

Prime was the second largest shareholder of HNB Finance with HNB having 51% stake.

For Rayynor it was the first entry into a listed finance company whilst he has extensive interests in the banking sector.

Last month Rayynor upped stake in Seylan to 10% with a fresh investment of Rs. 1.2 billion. The 10% voting stake in Seylan Bank further expands Rayynor’s banking sector investment portfolio. He already holds a 10% stake each in Sampath Bank and DFCC Bank, and 2% each in Commercial Bank and Hatton National Bank.