News & market updates

Arcasia Investment & Trading Ltd. and ATX Partners launched a voluntary offer to buy all issued shares of Industrial Asphalts at 40 cents per share, securing binding undertakings for 50.16% of the company. The offer will convert to a mandatory offer once those acceptances are tendered; the stock last traded at 60 cents.

Arcasia Investment & Trading Ltd and ATX Partners agreed to acquire a 50.16% stake in Industrial Asphalts and will make a voluntary offer of LKR0.40 per share to remaining shareholders. The consortium bought ~1.8807bn shares at LKR0.40; shares last traded at LKR0.70 and assets were LKR0.47/share (end‑March 2026).

Arcasia Investment & Trading and ATX Partners bought 1,880,693,010 shares (50.16%) of Industrial Asphalts at LKR0.40 per share and will make a voluntary offer for the remaining shares, subject to regulatory approval. The stock last traded at LKR0.70.

Arcasia Investment & Trading Ltd and ATX Partners have entered binding agreements to acquire a 50.16% controlling stake (1.88 billion shares) in Industrial Asphalts, triggering a Mandatory Offer; the offer price and terms will be announced after SEC approval.

Arcasia Investment & Trading and ATX Partners will acquire a 50.16% controlling stake (1,880,693,010 shares) in Industrial Asphalts (ASPH.N0000), triggering a mandatory offer for the remaining ordinary voting shares; offer terms await SEC approval.

Industrial Asphalts sold 1,800,693,010 shares (48.03% control) to Arcasia Investment & Trading and ATX Partners (agreement dated July 7); trading was halted and the stock last traded at 50 cents.

Colombo bourse fell with the ASPI down 0.61% to 21,828.50, led by capital goods turnover; Industrial Asphalts jumped 60% after agreeing to sell a 48.03% controlling stake. Hela Apparel’s subsidiary signed a management services agreement amid working capital challenges.

ASPI rose 258.09 points (+1.13%) on 7 Jul as CSE turnover reached ~Rs.5.28 B; Industrial Asphalt jumped 40%, SMB Finance gained (non‑voting +33.33%, voting +25%), while Palm Garden Hotels fell 7.08% and foreign net outflow was Rs.22.32 M.

Colombo Stock Exchange closed 0.02% lower as the ASPI slipped to 22,329.69, with banks and capital-goods names dragging the market. LOLC Finance filed to list Rs 15bn of debentures; turnover rose to Rs 3.3bn and net foreign outflow was Rs 130.44m.

Colombo's ASPI closed flat at 19,975.50 while the S&P SL20 dipped 0.19% to 5,815.64. Ceylon Tobacco said June-quarter volumes recovered to 490 million sticks and profits rose 2% to 7.3 billion rupees, while Haycarb's June profit fell 30% to 517 million rupees.

Sri Lanka stocks closed marginally down with the ASPI slipping 0.04% to 18,876.85 and the S&P SL20 falling 0.69% to 5,628.93. Turnover dipped to 6.8 billion rupees amid early profit-taking, with Commercial Bank, Melstacorp, Sampath Bank and NDB weighing on the market and high volumes in Industrial Asphalts, Jetwing Symphony and Beruwala Resorts.

Sri Lanka stocks rose for a second session as a ceasefire held, with the ASPI up 2% to 17,535 and the S&P SL20 up 1.66% to 5,219. The index gain was led by John Keells, Browns Investments, SMB Finance, Industrial Asphalts and Co-operative Insurance, while turnover rose to Rs 5.9bn.

ASPI rose 183.55 points (1.14%) to 16,314.79 as CSE turnover hit Rs.4.55 billion with over 180 million shares traded. Lanka Realty led activity (Rs.467m); JKH, LOLC and Commercial Bank saw heavy trading; Melstacorp, Sampath, Commercial Bank, Hayleys and Aitken Spence helped drive gains while several counters including Dipped Products, Ceylon Grain Elevators, Industrial Asphalts and NDB fell.

The Colombo market opened April higher, with the ASPI up 119 points (0.76%) on turnover of Rs. 1.9 billion. Banking stocks saw early selling around XD dates while blue-chips and capital goods (e.g. Hayleys, John Keells, Melstacorp) were key contributors.

Sri Lanka's ASPI fell 1.33% to 15,645.30 and the S&P SL20 dropped 1.52% to 4,662.66 as turnover fell to 1.27 billion rupees and volumes declined; top decliners included Melstacorp, NDB, Sampath Bank, DFCC and Aitken Spence.

The ASPI fell 2.3% for the first week of February despite a 1.38% rebound on Friday; weekly turnover averaged Rs.4.16bn and Friday turnover was Rs.2bn. Ceylinco, Melstacorp, John Keells and Aitken Spence were among Friday's top contributors, while Watawala, Seylan Bank and SMB Finance were key detractors.