📈 Hardy Jamaldeen Acquires 7% Stake in Softlogic Finance; Stock Moves to Main Board

Investor Hardy Jamaldeen has acquired a ~7% stake in Softlogic Finance PLC for over Rs. 325 million, signaling renewed market interest as the company transitions back to the CSE Main Board today. • Transaction Highlights: Hardy purchased 65.38 million shares (6.79%) at Rs. 5.00 per share from Softlogic Capital PLC. The parent group's total holding subsequently reduced from 92.41% to 84.10%. • Market Reaction: The trade triggered significant retail interest, driving the share price to a high of Rs. 7.10 before closing at Rs. 6.50. The transaction accounted for 9% (Rs. 654 million) of the day's total market turnover. • Regulatory & Board Move: The company moved from the Diri Savi Board to the Main Board today after meeting minimum public holding requirements. This follows a capital restructuring to offset retained losses against stated capital. • Financial Performance: - Profitability: Reported a 3Q FY26 profit of Rs. 5 million (up from Rs. 4.2 million YoY), though 9-month profits dipped to Rs. 12.4 million from Rs. 42 million. - Solvency: Core capital remains above the Rs. 2.5 Bn regulatory threshold. The Capital Adequacy Ratio stands strong at 51.69%, significantly above the 12.5% requirement. - Credit Rating: Obtained a ‘B’ rating from Lanka Rating Agency, its first in three years. • Outlook: With CBSL lifting all lending and deposit caps in late 2025, analysts expect improved performance for the financial services provider in FY27.