Cargills Bank public float rises to 49.84%

Monday, 9 March 2026 05:39 - - {{hitsCtrl.values.hits}}

Cargills Bank PLC on Friday said its public shareholding has increased to 49.84% as at 19 February 2026, up from 39.14% as at 31 December 2025, following an expansion in the shareholder base and the reduction of holdings by its major shareholders.

The number of public shareholders increased from 6,742 to 7,655, an addition of 913 shareholders during the period.

The increase in public float comes as the bank implements regulatory directives issued by the Central Bank of Sri Lanka requiring the gradual reduction of the combined shareholding of its two major shareholders, Cargills (Ceylon) PLC and CT Holdings PLC.

The bank had earlier informed the Colombo Stock Exchange on 17 February 2026, referring to previous disclosures on 1 July 2025, 30 July 2025 and 13 February 2026, that the regulator had directed the bank to meet specified interim capital targets and reduce the combined shareholding of the two entities over several years.

Under the directive, the bank is required to maintain minimum total capital of Rs. 16 billion by 31 March 2027, Rs. 17.5 billion by 31 March 2028, Rs. 19 billion by 31 March 2029, and Rs. 20 billion by 31 December 2029.

At the same time, the combined shareholding of Cargills (Ceylon) PLC and CT Holdings PLC is required to be reduced to 45% by end-March 2027, 35% by end-March 2028, 25% by end-March 2029, and 15% by end-December 2029.

As part of this process, Cargills (Ceylon) and CT Holdings disposed a combined 10.05% stake in the bank in February 2026, reducing their joint shareholding to 50.66%.

As of 30 September 2025, Cargills (Ceylon) PLC held a 37.09% stake in the bank as the largest shareholder, followed by CT Holdings PLC with 23.62%, while public shareholding stood at 39.14%.

The latest increase in public participation brings the bank above the minimum public float requirements stipulated under the CSE Listing Rules.

Cargills Bank closed Friday unchanged at Rs. 9 per share. It reported net assets at Rs. 12.82 per share as at end-December 2025.