The Export Development Board is intensifying efforts to expand Sri Lanka's graphite industry to boost mineral export revenue, including a field visit to Bogala Graphite Lanka PLC to review mining, processing and value-add operations. The drive aims to enhance market access, R&D and partnerships under the NEDP.
Bogala Graphite Lanka said it has been notified of an indirect change of control after its majority shareholder Graphit Kropfmühl GmbH, which holds an 86.46% stake, was sold to a wholly owned subsidiary of Asbury Advanced Materials. The company reported no changes to operations or management; shares closed Rs.2.75 lower at Rs.134.
Colombo Stock Exchange closed lower, with the ASPI down 0.38% to 21,148.71 and market turnover of Rs.1.094 billion; capital goods led turnover at Rs.389 million. Bogala Graphite reported an indirect change of control (shares down 2.01%) and Lankem Ceylon disclosed a Rs.500m corporate guarantee for its subsidiary (shares up 5.23%).
Colombo market fell 0.22% as the ASPI closed at 22,208.58 with turnover near Rs.1.2bn and foreign net outflows of Rs.130.6m. Main negative contributors included SAMP, JKH, LOFC, GRAN and RICH, while SPEN, BOGA and HAYC recorded gains.
Pathfinder Foundation held a diplomatic dialogue to advance Sri Lanka’s critical minerals sector and agreed to establish an International Study Group on Critical Minerals to drive policy reform and attract FDI. Bogala Graphite (CEO Amila Jayasinghe) participated, with industry calls for regulatory reform, digital licensing and value-added processing.
The Colombo stock market gained Rs.84 billion as the ASPI rose 1.42% to 22,445.89. Top contributors included Colombo Dockyard, Melstacorp, Hatton National Bank, Richard Pieris and Commercial Bank, with capital goods, banking and materials driving turnover and hotel stocks seeing buying interest.
AMG is selling Graphit Kropfmühl (GK) to Asbury Carbons for an enterprise value of $65 million; GK holds a majority stake in Bogala Graphite Lanka PLC. Bogala shares closed up 25% yesterday at Rs.137.
Colombo bourse rose on Budget optimism as ASPI gained 0.98% (225 pts) and S&P SL20 rose 1.13%; banking led activity (23% of turnover) and key positive contributors included SFCL, COMB, SAMP, HNB and VONE, with DFCC, LAUGFS and Bogala among high-turnover winners.
Colombo market closed higher as ASPI rose 0.25% with turnover of Rs. 7.56bn, boosted by a ~7% stake crossing in National Development Bank. Banking drove activity (67% of turnover) while several banks and financials including NDB, Capital Alliance and others led contributions.
BPPL Holdings PLC has rotated its Independent Directors: Manjula De Silva, Sharmini Ratwatte and Savantha De Saram resigned effective 1 July 2025 after nine years, and Dinesh Dharmadasa, Natasha Boralessa and Mohamed Adamaly were appointed as Independent Non-Executive Directors. The new appointees bring experience in finance, sustainability, governance and law.
Colombo market rebounded as ASPI rose 151 pts (0.96%) to 15,861 on turnover of Rs.24bn, led by banking and blue‑chip gains; top contributors included COMB, HNB, SAMP, HAYL and JKH while BOGA, JKH and SAMP led turnover.
Colombo Stock Exchange fell as the All Share Index dropped 1.38% to 10,719 and the S&P SL20 fell 1.69% to 3,006 on turnover of 615 million, with election-month political uncertainty weighing on sentiment.
Ada Derana·Aug 28, 2024·Management or board change
The Exporters' Association of Sri Lanka held its 27th AGM on 30 Jul 2024, electing Yohan Lawrence as Chairman and appointing HNB's Rozanne de Almeida and Hayleys' Nalaka Rathnayake as 1st and 2nd Vice Chairs; the managing committee includes listed exporters such as HNB, Sampath, Hayleys, Dipped Products, Lion Brewery, Bogala Graphite and Hela Apparel.