Top business leader Prabash Subasinghe last week doubled his stake in the Sampath Bank increasing his holding to 38.14 million shares (10%) through a major transaction concluded on Mar. 3, Sampath announced through a stock exchange filing.
A share split in Sampath is pending with each existing share due to be subdivided into three. Following shareholder approval at a general meeting to be held on Mar. 17, post-split trading of Sampath will commence on Mar. 23, the bank announced.
Subasinghe, a major player in the country’s seafood industry since 1999 and in rubber exports from 2002 has since been investing in many public listed companies now owning 18% of Resus Energy (renewable energy) and a minority stake in Pan Asia Power.