Stallion Consultancy acquires ACAP stockbrokers for Rs. 153 m

Wednesday, 20 August 2025 12:07 - - {{hitsCtrl.values.hits}}

Manilal Fernando enters SL capital market with ACAP Stockbrokers acquisition
Asia Capital divests its 63.77% holdings in ACAP Stockbrokers

Stallion Consultancy Director Manilal Fernando

ACAP Stockbrokers Chairman Stefan Abeyesinhe

Stallion Consultancy Ltd. yesterday said it has acquired ACAP Stockbrokers Ltd. from Asia Capital PLC.

The company said the acquisition brings heavyweight leadership credentials to the table, with Stefan Abeyesinhe stepping in as Chairman, Malik Fernando taking the reins as Managing Director, and Neville Epa continuing as Chief Executive Officer.

Asia Capital PLC in a stock exchange filing on Monday said a share sale and purchase agreement subject to approval from the Securities and Exchange Commission of Sri Lanka will be executed to sell 63.77% of ACAP Stockbrokers to Stallion Consultancy for Rs. 153 million, amounting to its equity in full.

Stallion Consultancy aims to position ACAP Stockbrokers as a dynamic, forward-thinking operation, laser-focused on becoming the critical bridge connecting Sri Lanka’s equity markets with international capital flows.

The firm’s dual-pronged strategy centres on cultivating robust relationships with overseas investment funds while simultaneously courting sophisticated local investors, creating multiple channels to funnel increased investment capital into Sri Lankan markets.

“We’re entering this space with a long-term view to support the development of Sri Lanka’s capital markets,” said Stallion Consultancy Director Manilal Fernando. “With trusted leadership, a clean platform, and global engagement, we intend to earn the confidence of institutional investors both locally and abroad,” he added.

The transaction remains subject to final regulatory approvals.