Rayynor buys 2 m more shares of Hayleys; stake now nearly 3%

Electronic media baron and high net worth investor Rayynor Silva yesterday picked up a further quantity of 2 million shares of Hayleys PLC increasing his stake to around 16 million shares or nearly 3%.

Hayleys saw 4.46 million of its shares trade for Rs. 417.8 million and accounted for 18% of the day’s turnover.

Rayynor had picked up most of his shares yesterday at prices ranging Rs. 92.50 per share and Rs. 94 per share. Hayleys share price closed at Rs. 93.90, up by Rs. 2.90 or 3.2%.

As exclusively reported yesterday, Rayynor raced to become the third largest shareholder of Hayleys PLC within weeks. At end of 2023, Hayleys share price was Rs. 71.50 and in the December quarter touched a high of Rs. 92.90 and a low of Rs. 70.90. Net asset value per share is Rs. 108.16

Raynor told the Daily FT that given its stature and potential Hayleys is currently undervalued hence he sees future upside. He described his investment into Hayleys as long term.

Dhammika Perera is the largest shareholder of Hayleys PLC with 51% stake followed by Trustees of the D. S. Jayasundera Trust owns 11.6%. The previous third largest shareholder was McLarens Holdings Ltd., owning 13.2 million shares or 1.76%.