Wednesday Oct 28, 2026
Wednesday Oct 28, 2026
Wednesday, 28 October 2026 00:00 - - {{hitsCtrl.values.hits}}
The mandatory offer by Abishek Sithampalam for the remaining 29.46% of Standard Capital PLC is awaiting a determination from the Securities and Exchange Commission of Sri Lanka (SEC), the company said yesterday.
Sithampalam purchased 3,908,715 ordinary voting shares, or 70.54% of the company’s issued ordinary voting shares, on 2 October, 2026. The acquisition requires him to offer to buy the remaining 1,632,113 shares from minority shareholders.
The company reported net assets of Rs. 26.59 per share as of end-June 2026 with Gulf East Finance Ltd., (31.76%), Standard Industries Ltd., (18.05%) and Amina Investments Ltd., (15.44%) and Eastern Ocean Investments Ltd., (9.14%) the top shareholders. The share ended yesterday up Rs. 2.80 at Rs. 44.60.
On 2 October Sithampalam acquired 70.54% of voting shares at Rs. 40 each for over Rs. 156.3 million.
