Broker confirms Rayynor now has 10% stake in Sampath Bank

SC Securities yesterday said its client Phantom Investments Private Limited, the investment arm of businessman and electronic media owner Rayynor Silva, has acquired 10 percent stake in 

Sampath Bank PLC.
“Phantom Investments Private Limited has acquired 10 percent stake of the voting share quantity under a series of transactions during the recent past and the last transaction has been executed through SC Securities on June 27, 2023,” a market filing by SC Securities said.

According to the filing, Phantom Investments now holds little over 117.2 million shares of Sampath Bank, which constitutes to 10 percent stake.
This will make Phantom Investments the second largest shareholder of Sampath Bank behind Dhammika Perera’s Vallibel One PLC, which holds 14.95 percent stake in the bank.As per the current rules, the single shareholder limit of banks is at 10 percent while it can go up to 15 percent under special approval from the Central Bank.