E.B. Creasy to raise Rs. 1.5 b via Rights

Monday, 28 July 2025 04:29 - - {{hitsCtrl.values.hits}}

E.B. Creasy PLC has announced plans to raise Rs. 1.52 billion via a Rights Issue.

The Rights Issue proposed is on the basis of 1 for every 10 held at Rs. 60 each. The move will see issuance of 25,354,580 shares. The current stated capital is Rs. 25,730,205.

Proceeds from the Rights Issue will be used to settle short-term interest bearing borrowings and further investment in subsidiary company, Darley Butler & Co. Ltd.

Short term loans and borrowings at end of FY25 was Rs. 1.44 billion, down from Rs. 1.94 billion at company level and Rs. 5.11 billion at Group level down from Rs. 5.78 billion in FY24.

The share price of E.B Creasy on Friday closed at Rs. 63.20, down by Rs. 1.80 from Thursday. The net asset value per share as at 31 March, was Rs. 24.82 up from Rs. 21.03 a year ago.

The Colombo Fort Land and Building PLC holds 52.98% in addition to smaller stakes by several related parties. Senthilverl Holdings PLC holds 15.6%. The public float of E.B. Creasy is 23.92% held by 1,489 shareholders.