Rayynor turns bullish on Sampath Bank, picks up 27 m more shares for Rs. 1.4 b

• Phantom Investments estimated to be now owning 8.5% stake in third largest private commercial bank

Rayynor Silva

Young business leader of electronic media fame Rayynor Silva showed his bullishness on Sampath Bank picking up around 27 million shares for Rs. 1.4 billion.

With yesterday’s purchase via his firm Phantom Investments Ltd., Rayynor is estimated to be holding 8.5% stake in Sampath Bank, the third largest private sector commercial bank.

Sampath generated the biggest turnover of Rs. 1.6 billion or 56% of the total yesterday involving 29.45 million shares. Sampath Bank share price closed at Rs. 54.90, up by 3.6% or Rs. 1.90

The biggest block of 25.5 million shares was done at Rs. 54 each and another block of 1 million shares at Rs. 55 each. 

In March, Rayynor bought 20 million Sampath shares for Rs. 1 billion thereby becoming the fifth largest shareholder. As at 31 March Phantom Investments Ltd., held 60.57 million shares or 5.29% stake.

The majority seller yesterday was high net worth individual investor Dr. T. Senthilverl who as at 31 March held 41 million shares or 3.59% stake in Sampath Bank.

Dhammika Perera-controlled Vallibel One PLC owns the controlling 15% stake in Sampath followed by Prabhash Subasinghe controlled-Ayenka Holdings Ltd 9.97% and EPF 9.97%. Indra Silva holds 8.2%.