Fintrex Finance to raise Rs. 500 m via private placement to Blue Stone 1

Wednesday, 18 March 2026 00:00 - - {{hitsCtrl.values.hits}}

Fintrex Finance PLC yesterday said it will raise Rs. 500 million through a private placement of shares to its sole shareholder, Blue Stone 1 Ltd.

The company said the Securities and Exchange Commission of Sri Lanka has granted approval to issue 50 million new ordinary shares at Rs. 10 per share, amounting to a total consideration of Rs. 500 million.

The Board of Directors has determined that the issue price of Rs. 10 per share is fair and reasonable to the company and its existing shareholder.

Fintrex also confirmed that it has obtained approval from the Central Bank of Sri Lanka’s Department of Supervision of Non-Bank Financial Institutions for the transaction.

The company’s stated capital, as at the date of the announcement, stood at nearly Rs. 2.37 billion.

Fintrex said the proposed share issue is intended to strengthen its capital base and enhance its capital adequacy ratio, amid ongoing regulatory and operational requirements in the non-bank financial sector.

The company also clarified that the private placement will not have any impact on its existing listed high-yield bonds, noting that the details of the transaction have already been communicated to the trustee of those instruments.