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Malaysian Royal family linked investor buys 5% stake in Sampath, 20% in Asia Capital
Thursday, 10 November 2005 - 3:42 AM SL Time
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Reported to be linked to the Malaysia`s Royal family, high networth investor Ting King Sing yesterday picked up 5% stake in Sampath Bank for Rs. 374 million on top of a 20% stake in Asia Capital on Tuesday.
Giving a big boost to the market, the Malaysian investor who has extensive interest in financial services and construction industry, paid Rs. 110 per Sampath Bank share. The seller was Elgin Fund. In total 4 million Sampath Bank shares or 6% stake traded between a high of Rs. 112 and a low of Rs. 104.75, before closing at Rs. 110, up by 7 or 7%.
This placed Sampath as the second highest gainer percentage wise yesterday.
On Tuesday his purchases in to Asia Capital also propelled the company to a similar position, up by 16% or Rs. 2.50 to 18. Largely retailer sellers, Asia Capital on Tuesday saw 23.6 million shares or 21% stake trade between a high of Rs. 18 and a low of Rs. 15.50.
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