📈 Standard Capital Mandatory Offer Awaits SEC Approval

Takeover Trigger: Abishek Sithampalam acquired a controlling 70.54% stake (3,908,715 ordinary voting shares) in Standard Capital PLC on 2 October 2026 for over Rs. 156.3 Bn (at Rs. 40.00 per share). Mandatory Offer: Following the majority acquisition, the buyer is required to make a mandatory offer for the remaining 29.46% (1,632,113 shares) from minority shareholders, currently pending a determination from the Securities and Exchange Commission of Sri Lanka (SEC). Financials & Asset Value: Net assets stood at Rs. 26.59 per share as of end-June 2026. Market Response: The share price rose by Rs. 2.80 to close at Rs. 44.60. Major Pre-Acquisition Shareholders: Gulf East Finance Ltd. (31.76%), Standard Industries Ltd. (18.05%), Amina Investments Ltd. (15.44%), and Eastern Ocean Investments Ltd. (9.14%).