Printcare plans Rs. 700 m Rights Issue

Thursday, 17 September 2026 04:59 - - {{hitsCtrl.values.hits}}

Printcare PLC yesterday said its Board of Directors has recommended a Rights Issue of shares to raise Rs. 700,014,300 for investment and working capital purposes.

The Board approved the proposal on 15 September, with the issue structured as 19 new ordinary voting shares for every 70 ordinary voting shares currently held, priced at Rs. 30 per share.

A total of 23,333,810 new ordinary voting shares are to be issued under the proposal. The company’s current stated capital stands at Rs. 271,893,021.

The Rights Issue remains subject to approval in principle from the Colombo Stock Exchange for the issue and listing of the new shares, as well as shareholder approval at a General Meeting.

After the announcement yesterday, Printcare shares traded Rs. 2.3 lower at Rs. 37.7. As of end-June 2026, the company reported net assets of Rs. 65.22 per share.

MJF Holdings was the largest shareholder with a 26.87% stake, followed by K.R. Ravindran (20.15%), and Finco Holdings (11.21%). The public float was 39.06%.