Senthilverl Holdings offloads entire Amana Takaful stake in Rs. 1 bn deal

Senthilverl Holdings Ltd. has fully divested its stake in Amana Takaful PLC, marking a complete exit from the insurer with a sale valued at approximately Rs. 1 billion.

The transaction generated heavy market activity on the Colombo Stock Exchange (CSE) on Friday (31 October), with 51.5 million Amana Takaful shares changing hands for a total turnover of Rs. 1.4 billion. The bulk of the trade, 40 million shares, was executed via 20 crossings at Rs. 27 per share.

Among the key buyers were Arrc Capital, which acquired 5 million shares at Rs. 27 each, and Phantom Investment Ltd., which purchased 10 million shares at the same price. The balance 29.1 million shares were traded in the open market between Rs. 27 and Rs. 32 per share.

Following the development, Amana Takaful’s share price closed at Rs. 29, up 7.4 percent, after the large-scale ownership change.