🚢 Colombo Dockyard (DOCK) Moves Ahead with Rs. 13 Bn Rights Issue

• Colombo Dockyard PLC (DOCK) confirmed it will proceed with the Rights Issue (RI) after shareholder approval, aiming to raise Rs. 13 Billion. • Primary Goal: To strengthen the company's financial position and improve its working capital base, addressing severe financial constraints. • Strategic Tie-up: The RI is part of the deal to bring in India's Mazagon Ship Builders Ltd. as the controlling shareholder, following their US$ 53 Million investment agreement in June 2025. • Key Mechanic: Existing major shareholder, Onomichi Dockyard, will refrain from subscribing, allowing the resulting shares (323.37 million) to be allotted to Mazagon (subject to a Special Resolution). • RI Details: The issue will be on the basis of nine new shares for every two held, priced at Rs. 40 each.