Ambeon makes Mandatory Offer for Myland

Saturday, 20 September 2025 00:00 - - {{hitsCtrl.values.hits}}

Ambeon Capital PLC yesterday announced a Mandatory Offer for an 18.27% stake in Myland Developments PLC at Rs. 8.50 for each of the 6.62 million shares.

If all shareholders take up the offer, the deal would be worth Rs. 56.3 million.

Earlier this month, Ambeon Capital and connected parties acquired an 82% stake in Myland for Rs. 252 million.

Ambeon Capital picked up a 51% stake, or 18.5 million shares, at Rs. 8.50 each in a deal worth Rs. 157 million.

Further, ATX Partners Ltd., (13.75%), Arcasia Investment and Trading Ltd., (13.95%), and Sujeewa Mudalige (3%), acting in concert with the company, purchased a 30.7% stake for Rs. 94.5 million.