Dr. Senthilverl sells 9% PABC stake for Rs. 537 m

Thursday, 10 July 2014 00:32 - - {{hitsCtrl.values.hits}}

High net worth but low profile investor Dr. T. Senthilverl yesterday exited from Pan Asia Bank Plc, selling his 9% stake for Rs. 537 million to Arc Capital Ltd. PABC saw 27.5 million of its shares trade for Rs. 549.5 million and dominated turnover yesterday. Within the volume, a parcel of 26.86 million shares was done above the market at Rs. 20 each via a crossing. PABC closed at Rs. 19, up by 50 cents. Its intra-day highest for on-the-board deals was Rs. 19.50. PABC’s Net Assets Per Share is Rs. 14. Senthilverl as at 31 March held 26.89 million shares or 9.11% pledged with Seylan Bank. He was the third largest shareholder after Dhammika Perera (29.9%) and Japan’s Bansei Securities (15%).

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