Senthilverl ups stake in Industrial Asphalts over 10%

High-net-worth investor Dr. T. Senthilverl has upped his stake in Industrial Asphalts (Ceylon) PLC (ASPH), to over 10 percent, the Colombo Stock Exchange was informed yesterday.

A stock exchange filing by SC Securities said Senthilverl purchased 142 million ASPH shares on September 24, through a margin account in Sampath Bank, which helped him to cross the 10 percent threshold.

As at June 30, 2020, Senthilverl held 196.5 million shares or 6.55 percent of ASPH.

Investment banker and ASPH Managing Director G. Ramanan holds the majority shares of the company, with a 66.87 percent stake. 

Brokers yesterday said foreign selling in ASPH topped Rs.26 million. ASPH is mainly into manufacturing bitumen-based products.