Dr. Senthilverl acquires 10% stake in Amana Bank

High net worth investor Dr. T. Senthilverl has increased his stake in Amana Bank PLC to 10 percent through Senthilverl Holdings (Pvt) Ltd. likely posting himself among the top three shareholders of the Islamic bank.

Senthilverl Holdings last Friday purchased 176.84 million shares of the bank at Rs.3.80 and Rs.4.40 per share. 
“We hereby inform you that our client Seylan Bank PLC/Senthilverl Holdings (Pvt) Ltd.

with the purchase of 176,846,291 and 3 Amana Bank PLC shares at the price of Rs. 3.80 and 4.40 respectively holds 10.00 percent stake as at 7th January 2022,” a disclosure filed by Cando Equities with the Colombo Stock Exchange stated.

Prior to the purchase, Senthilverl Holdings held 92.27 million shares of Amana Bank. However, as of 30th September, Senthilverl Holdings didn’t appear among top twenty shareholders of Amana Bank. 

IB Growth Fund (Labuan) LLP, a subsidiary of the Islamic Corporation for the Development of the Private Sector (ICD) and ultimately owned by Islamic Development Bank was the largest shareholder of the bank with a 23.65 percent stake followed by Bangladesh’s  Hossain Ahmed Ismail and Mohamed Haji Omar with 9.9 percent and 8.49 percent stakes.

Little over 223.9 million shares of Amana Bank changed hands on Friday in 564 trades recording a turnover of Rs. 856.25 million. The share price was up by 10 cents or 2.38 percent to Rs.4.30 at the market closure on Friday