Senkadagala Finance announces key dates for 1:20 Rights Issue

Wednesday, 31 December 2025 00:25 - - {{hitsCtrl.values.hits}}

Senkadagala Finance PLC yesterday announced the key dates relating to its proposed 1:20 Rights Issue of ordinary voting shares to raise Rs. 1 billion following in-principle approval from the Colombo Stock Exchange.

The company said the Extraordinary General Meeting to seek shareholder approval for the Rights Issue will be held on 19 January 2026. The shares will trade ex-rights on 20 January 2026, while the record date and the date of provisional allotment have been fixed for 21 January 2026.

Senkadagala Finance said the rights entitlements will be directly credited to shareholders’ CDS accounts on 26 January 2026, with the provisional letters of allotment to be dispatched on 28 January 2026.

Trading of the rights is scheduled to commence on 3 February 2026. The last date for renunciation of rights will be 11 February 2026, while the final date for acceptance and payment for the rights has been set for 16 February 2026.

The company said the circular to shareholders and the notice of the EGM, containing further details of the rights issue, will be dispatched in due course and will also be published on the Colombo Stock Exchange website and the company’s website.

Senkadagala Finance has proposed a 1:20 Rights Issue to increase its stated capital at a price of Rs. 240 per share. The company’s current stated capital stands at Rs. 2.4 billion represented by over 86.2 million ordinary voting shares as at 30 September.

Proceeds from the issue will be used to strengthen the company’s capital base, support projected business growth, maintain prudent capital adequacy levels, and reinforce stakeholder confidence in line with medium-term strategic objectives. The funds will also be deployed to expand the loan book in line with projected growth plans.

The Central Bank has approved the issue.

The public float of Senkadagala Finance is 21.42% held by 262 shareholders. E.W. Balasuriya & Co., owns 52% stake in addition to shareholding by related parties.

The share closed flat at Rs. 1,196.50 yesterday. The company reported net assets per share of Rs. 123.62 as of end September 2025.