📈 Ceylon Land & Equity to Raise Rs. 4.3 Bn via Rights Issue

Ceylon Land & Equity PLC has announced a major 2-for-1 Rights Issue to raise approximately Rs. 4.3 Billion, aimed at debt settlement and expanding its property development and portfolio management segments. • Issue Details • Proportion: Two (2) new ordinary voting shares for every one (1) existing share held. • Price: Issued at Rs. 7.00 per share (614.1 Mn new shares). • Total Capital: Expected infusion of ~Rs. 4.3 Bn. • Strategic Utilization of Funds • Settle short-term bank loans and inter-company borrowings. • Finance a Rs. 1.7 Bn investment in Shaw Wallace & Hedges Ltd to increase shareholding to 49.2%. • Fund future real estate and investment portfolio growth. • Market & Financial Context • Market Reaction: Share price closed at Rs. 15.20 (+Rs. 2.80), significantly above the issue price. • Net Assets: Reported at Rs. 14.95 per share as of Dec 2025. • Ownership: Major stakes held by Galle Face Properties (33.4%) and Almas Holdings (22.4%). _Note: Subject to CSE in-principle approval and shareholder vote at an EGM._