Ambeon Holdings ups stake in Seylan Bank; strengthens financial services footprint

• Move follows Ambeon Capital PLC and subsidiaries acquiring 9% stake in DFCC Bank 

Ambeon Holdings PLC, a diversified conglomerate with a strong presence across multiple sectors, said yesterday it continues to strengthen its position in Sri Lanka’s financial services industry through strategic investments. 

Recently, the company increased its stake in Seylan Bank PLC by 0.98%, bringing its total holding to 8.61% of the bank’s ordinary voting shares. On Friday the Company bought 3 million Seylan Bank shares at Rs. 70 each in a deal worth Rs. 210 million.

This move underscores Ambeon’s growing influence in the financial sector, complementing the recent acquisition of a 9.02% stake in DFCC Bank PLC by Ambeon Capital PLC and its subsidiaries.

These investments reflect Ambeon Group’s focused strategy to expand its footprint in the banking and financial services sector in Sri Lanka, which is a key pillar of the nation’s economic landscape. The company’s overarching strategy involves diversifying its investments across high-growth industries while reinforcing its leadership in its current sectors. 

Ambeon’s diverse portfolio spans sectors such as financial services, real estate, technology, and manufacturing, and it has a notable presence in both local and international markets. With its strategic investments, Ambeon Holdings PLC is well-positioned to remain a key player in Sri Lanka’s economic development, strengthening its influence across both traditional and emerging sectors.

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, Millennium I.T.E.S.P. 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 and Colombo City Holdings PLC (a diversified investment holding company with interests in real estate, further broadening 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.