📈 LVL Energy Fund to Raise Rs. 507 Mn via Rights Issue

LVL Energy Fund PLC (LVEF) has announced a Rights Issue to strengthen its balance sheet and manage liquidity. The move follows recent challenges with dividend remittances from foreign investments in Bangladesh and Nepal. • Issue Details: • Amount to be Raised: Up to Rs. 507.15 Mn. • Ratio: 3 new ordinary voting shares for every 31 existing shares. • Price: Rs. 7.50 per share (a discount to the recent market close of Rs. 9.70). • New Shares: Up to 67,619,394 shares to be issued. • Objective: • Proceeds will be used exclusively to settle outstanding debt already recognized as due. • As of Sept 2025, the company held long-term borrowings of Rs. 2.2 Bn and short-term debt of Rs. 466 Mn. • Market & Financial Context: • Stated Capital: Currently stands at Rs. 3.37 Bn. • Net Assets: Reported at Rs. 8.79 per share (as of Sept 2025). • Major Shareholder: Lanka Venture PLC remains the parent with a 52.48% stake. • Next Steps: • The issue is subject to in-principle approval from the Colombo Stock Exchange (CSE) and shareholder approval at an upcoming Extraordinary General Meeting (EGM).