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Tuesday, April 30, 2013

Nimal buys back into Pan Asia Bank

High net worth investor and chairman Nimal Perera has once again bought into Pan Asia Bank PLC, after divesting a near 2% stake in mid-April.

As per disclosure filings to the CSE, Perera yesterday bought 1.1 million shares of Pan Asia Bank between Rs. 20 and Rs. 21 per share on top of around two million shares collected last week, bringing the total to three million shares.

On 16 April, Perera sold five million shares held under his personal name as part of providing a 15% stake for strategic investor Japan’s Bansei Securities Ltd., at Rs. 21 per share. A foreign fund sold a 9.3% stake whilst Royal Ceramics also chipped in by divesting its six million shares.

Bansei Securities in total bought 44.25 million shares for Rs. 929 million as part of a strategic investment in Pan Asia Bank, in a move viewed as a boost for the financial services industry.

source - www.ft.lk