Agarapatana Plantations PLC will seek shareholder approval to redeploy Rs.643.2m of unutilised IPO proceeds toward mechanisation and renewable energy and to extend the utilisation deadline to 30 Sep 2028. Only Rs.29.4m of the Rs.672.6m for factory modernisation was used; the revised plan adds Rs.88m for renewable energy and has a Rs.6.5m shortfall to be met from internal funds.
Colombo Stock Exchange closed higher as the ASPI rose 1.30% to 20,619 with turnover of Rs 6.21bn, led by gains in banks and capital goods. Key risers included Commercial Bank, Sampath Bank, HNB, Aitken Spence, DFCC and active trading in Sierra Cables.
Colombo stock market closed the week lower: the ASPI fell 0.4% to 19,827 and the S&P SL20 lost 1.2%, with yesterday's turnover at Rs.3.26 billion. Diversified Financials led turnover (23%) driven by Galle Face Capital Partners; John Keells, Hemas, Prime Lands and Lankem were also top contributors.
Ada Derana·Jul 1, 2025·Award or certificationPositive
Agarapatana Plantations' Diyagama West Estate produces over one million kilograms of made tea annually and is modernizing its factory into Sri Lanka's first fully automated upcountry Rotorvane unit. The estate, a Lankem Developments subsidiary, also runs a historic hydro power unit, holds sustainability certifications and supplies Dimbula teas to export markets.
ASPI rose 84.3 points (+0.5%) to 15,926 on low turnover of about Rs.1.7bn while foreigners were net sellers of Rs.35.1m; gains were led by counters including CINS, MELS, COMB and SPEN, with Food, Beverage & Tobacco and Banking driving activity.
Colombo stock market opened higher as the ASPI rose 0.41% (up 65 pts) to 15,917; turnover was about Rs.2.0bn while foreigners were net sellers with a Rs.262.5mn outflow. Market momentum was driven by blue-chips and mid-caps, with notable activity in capital goods and food & beverage names.
The CSE opened May on a mixed note as turnover hit a new high of Rs. 6 billion while the ASPI rose 52 points to 15,852; crossings in CT Holdings and Cargills dominated activity, together accounting for the bulk of turnover. Banking and food retail stocks, including Pan Asia Banking and Lankem, were also among top contributors.
ASPI rose 51.80 points (0.33%) to 15,851.74 as turnover hit Rs. 5.9bn, driven by Rs. 2bn crossings in C T Holdings and Cargills. Pan Asia Banking, C T Holdings, DFCC, Melstacorp and Nations Trust were top contributors while John Keells, HNB, Commercial Bank, NDB and Access Engineering weighed on the index.
Lankem Developments PLC's Rs. 600 million rights issue was oversubscribed, receiving Rs. 725.5 million in subscriptions. Funds will be used to settle related-party dues, invest in subsidiaries and for working capital; shares closed at Rs. 18.80, up 6.2%.
Page 1
That is the last 30 days. Sign in to read back 24 months.