A landmark stock market transaction took place on Tuesday (27 May), with Ceylon Steel Corporation acquiring a 9.99% stake in Hatton National Bank PLC (HNB) from Browns Investments PLC.

Making it one of the largest deals on the Colombo Stock Exchange in recent times, the negotiated deal involved the transfer of 45,317,177 voting shares at Rs. 305.00 per share, generating a turnover of Rs. 13.82 billion

Browns Investments held 9.99% of the voting share capital in HNB, making it the largest single shareholder, prior to the sale. 

Capital Alliance Securities (Pvt) Ltd, which acted as the broker for the buyer, Ceylon Steel Corporation, also handled 60% of the trade on behalf of the seller, Browns Investments PLC. (Newswire)

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