Ambeon Holdings steps up strategic investments in banks; buys 9% of Seylan for Rs. 1.4 b

• Yesterday’s acquisition follows purchase of 9% stake in DFCC Bank for Rs. 3.3 b
• Move reinforces Ambeon Group’s reputation as key player in SL’s economic landscape

Ambeon Holdings PLC, yesterday made a significant strategic move in the financial services sector by acquiring a 7.63% stake in Seylan Bank PLC, further increasing its investments in the banking industry. 

This investment comes on the heels of a strategic acquisition by Ambeon Capital PLC and its subsidiaries, which recently purchased 9% of the ordinary voting shares of DFCC Bank PLC for Rs. 3.3 billion. 

Ambeon said both investments underscore its strategic focus on strengthening its presence in the financial services sector, reinforcing its reputation as a key player in Sri Lanka’s economic landscape.

Ambeon Group Chairman Sujeewa Mudalige highlighted that the company’s expanding portfolio is a clear reflection of its ongoing commitment to broadening its investments in high-potential sectors. 

Ambeon Group Executive Director/Group CEO Dr. Sajeeva Narangoda said: “With its diverse holdings, Ambeon Group is positioning itself as a leading player in Sri Lanka’s corporate landscape. Our focus is not only on maintaining market dominance in key sectors but also on fostering growth through targeted investments in strategic areas that offer significant long-term potential. This approach ensures we remain well-positioned to leverage emerging opportunities across a variety of industries, from financial services to real estate and technology.”

Ambeon Holdings PLC, a subsidiary of Ambeon Capital PLC, is strategically expanding its presence in high-growth sectors through a series of targeted investments. The company’s diverse portfolio across multiple industries demonstrates its broad investment approach and commitment to capitalising on market opportunities for long-term growth. 

The subsidiaries of Ambeon Holdings PLC include Taprobane Capital Plus Ltd. – a leading financial services provider with a wealth of experience in capital markets and government securities in Sri Lanka – and MillenniumIT ESP Ltd. – Sri Lanka’s leading information systems solutions providers delivering IT solutions for many industries; including banks and finance, telecommunications, apparel, and leading conglomerates. Its strong foothold in IT solutions underscores Ambeon’s commitment to technological innovation. 

Colombo City Holdings PLC, a diversified investment company with interests in real estate, further broaden Ambeon’s presence in the property sector, an area of growing importance in Sri Lanka’s economy. 

Additionally, Ambeon Holdings holds a 22.4% stake in the Dankotuwa Group, which includes Dankotuwa Porcelain PLC and its subsidiary Royal Fernwood Porcelain Ltd. This involvement in the manufacturing and export sector adds another layer of diversification to Ambeon’s investment strategy.

The Ambeon Holdings PLC Board of Directors comprise of eminent personalities – Chairman/Independent Non-Executive Director Sujeewa Mudalige, Executive Director/Group Chief Executive Officer Dr. Sajeeva Narangoda, Independent Non-Executive Director Mangala Boyagoda, Independent Non-Executive Director Savanth Sebastian, Independent Non-Executive Director Samresh Kumar, Independent Non-Executive Director Jacky Tsoi, Non-Executive Director Ruwan Sugathadasa, and Independent Non-Executive Director Duminda Weerasekare.