Senkadagala Finance to raise Rs. 1 b via Rights Issue

Wednesday, 19 November 2025 00:24 - - {{hitsCtrl.values.hits}}

Senkadagala Finance PLC has announced 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 proposed rights issue by letter dated 18 November 2025.

The transaction is subject to approval in principle from the Colombo Stock Exchange for the listing of the new shares and to shareholder approval by ordinary resolution at an Extraordinary General Meeting.

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 at Rs. 1,194.75 yesterday, down from Rs. 1,300 the previous session. The company reported net assets per share of Rs. 123.62 as of end September 2025.