Amana Takaful to raise Rs. 1 b via Rights

Monday, 9 February 2026 04:29 - - {{hitsCtrl.values.hits}}

Amana Takaful PLC’s Board of Directors has recommended a Rights Issue of ordinary voting shares to strengthen the company’s equity base and improve its Capital Adequacy Ratio (CAR) in line with the Risk-Based Capital framework introduced by the Insurance Regulatory Commission of Sri Lanka.

Under the proposed Rights Issue, shareholders will be offered three ordinary voting shares for every 14 existing ordinary voting shares held, at a price of Rs. 19 per share. The Issue will comprise over 52.8 million shares, raising a total consideration of Rs. 1,004,242,283.

The company’s current stated capital stands at Rs. 2,159,952,741.

Amana Takaful ended Friday Rs. 0.30 up at Rs. 25.30. The company reported net assets of Rs. 23.45 per share as of end-September 2025. Senthilverl Holdings was the top shareholder at 27.11%, followed by Osman Kassim (21.85%), Sattar and S.S. Kassim (15.16%), and Amana Bank PLC (13.26%). The public shareholding was 75.61%.

The proposal was approved by the Board on 5 February and is subject to the Colombo Stock Exchange granting approval in principle for the issue and listing of the shares, as well as shareholder approval at a General Meeting.