Rayynor buys 5 m more of Hayleys shares for Rs. 525 m

Wednesday, 12 June 2024 00:26 - - {{hitsCtrl.values.hits}}

Rayynor Silva

Electronic media mogul and high net-worth investor Rayynor Silva yesterday bought a further 5 million shares of the most diversified blue chip Hayleys PLC for Rs. 525 million.

Rayynor was among a select group of buyers of Hayleys PLC which saw 10 million shares for Rs. 1 billion. Of that 6.7 million shares were done via crossings at Rs. 105 per share. It closed the day at Rs. 105.25, up by Rs. 5 or 5%.

With yesterday’s acquisition, Rayynor now holds 20.1 million shares or 2.6% stake in Hayleys PLC thereby becoming the second largest individual shareholder behind Dhammika Perera who owns 51% or 382.6 million shares.

Speculation was rife that among buyers were high net-worth investors Aravinda de Silva and Ajith Devasurendra. A foreign fund too bought into Hayleys which saw net foreign inflow of Rs. 57.8 million. The biggest seller was tipped as M.N.Deen, who as at 31 March held 5 million shares and was the 8th largest shareholder.

In May Rayynor picked up 2 million Hayleys shares at Rs. 92-94 each. Between April and May, Rayynor raced to become the third largest shareholder. Trustees of the D.S. Jayasundera Trust is the second largest shareholder at Hayleys with 11.6% stake.