Tuesday Jul 21, 2026
Tuesday Jul 21, 2026
Monday, 20 July 2026 05:25 - - {{hitsCtrl.values.hits}}
Ambeon Capital PLC has unveiled plans to raise up to Rs. 4 billion through a combination of a Rights Issue and a contingent private placement to strengthen its capital structure, reduce gearing, and fund new investments in high-growth sectors.
The Board of Directors resolved on 16 July to proceed with a Rights Issue of up to 100 million ordinary voting shares at Rs. 32 each, targeting proceeds of up to Rs. 3.2 billion. Existing shareholders will be entitled to subscribe for one new ordinary share for every 10.22352863 shares held.
Ambeon Capital shares ended Friday unchanged at Rs. 31.10.
Alongside the Rights Issue, the Board has approved a private placement of up to 25 million ordinary voting shares at the same issue price of Rs. 32 per share to raise a further Rs. 800 million. The private placement will proceed only if the Rights Issue is fully subscribed and applicants under the Rights Issue specifically apply and pay for the placement shares.
The private placement will be open to shareholders subscribing under the Rights Issue as well as investors purchasing Rights on the Colombo Stock Exchange (CSE) during the Rights trading period and applying for the additional shares. If applications exceed 25 million shares, allocations will be made on a pro-rata basis.
Ambeon Capital said the proceeds will be used to strengthen the company’s capital structure by reducing its gearing ratio while funding new equity investments in high-growth sectors, including financial services, technology, real estate, and fast-moving consumer goods (FMCG).
The Board said it considers the Rs. 32 issue price to be fair and reasonable despite being above the market closing price of Rs. 30.10 on the trading day immediately preceding the resolution. It noted that the company’s shares had experienced heightened volatility following the West Asia conflict and that the issue price reflected its assessment of fair value and expected market conditions.
Both the Rights Issue and the private placement remain subject to CSE approval in principle for the Issue and listing of the new shares. The Rights Issue also requires shareholder approval by ordinary resolution, while the private placement is subject to approval by special resolution at a General Meeting.
