Merchant Bank of Sri Lanka & Finance PLC (MBSL) recalibrated the MBSL Midcap Index effective 1 January 2026, setting the midcap market-cap range at Rs. 8.45 billion–Rs. 84.5 billion and selecting 25 constituents. New inclusions include Sierra Cables, Aitken Spence, Vallibel Finance, Lanka IOC, JAT Holdings and Prime Lands; Citizens Development, CIC, Ceylon Grain Elevators, John Keells, Hayleys Fabric, Teejay Lanka and Watawala Plantations were excluded.
Ambeon Capital PLC's board approved an Employee Share Option Plan to issue up to 10 million ordinary shares (about 1% of issued shares) to senior management across the Ambeon Group, subject to CSE in-principle approval and shareholder special resolution.
Ambeon Capital PLC's Taprobane Minerals Project reported drilling expanded estimated resources nearly 15-fold, with a base-case IRR of 73% and NPV8 of USD 180m; funding is secured, commercial operations are expected by early 2026 and first production in early 2027.
Ambeon Capital PLC's Taprobane Minerals Project reported drilling expanded estimated resources nearly fifteenfold in the initial development area, with a base-case IRR of 73% and an NPV8 of $180m; funding is secured and commercial operations are targeted for early 2026 with first production in early 2027.
Ambeon Holdings (GREG.N0000) will sell its wholly owned subsidiary Taprobane Capital Plus to parent Ambeon Capital (TAP.N0000) for Rs. 2.02 billion. The board approved the transaction on 11 Nov 2025, with transfer due within 30 days and the value set by an independent valuation as part of a restructuring to consolidate the group's financial services.
Ada Derana·Nov 12, 2025·Earnings & resultsPositive
Ambeon Capital PLC reported Q2 PAT of LKR 3,820m and year-to-date PAT of LKR 4,551m, up sharply from LKR 123m a year earlier. The group cited fair value gains and strategic investments, acquired 51% of Mylands and increased holdings in Ceylon Hotels (to 13.57%), DFCC (9.91%) and retains 9.93% in Seylan.
Ambeon Capital PLC reported 2Q PAT of Rs.3.82bn (YTD Rs.4.55bn) while Ambeon Holdings PLC posted 2Q PAT of Rs.3.22bn (YTD Rs.3.9bn). The group cited fair value gains and efficiencies, acquired 51% of Mylands, and increased stakes in Ceylon Hotels (13.57%) and DFCC (9.91%) while holding 9.93% in Seylan.
Myland Developments PLC appointed Savanth Sebastian and Ravi Goonetilleke as Independent Non‑Executive Directors and Dr. Kanchana Narangoda as an Executive Director. The appointees bring experience and links to firms including Ambeon Capital, Colombo City Holdings, Dankotuwa Porcelain, Hemas and Nations Trust Bank.
Colombo market opened lower as the ASPI fell 0.10% to 22,788.79; major movers included Colombo Dockyard (DOCK +24.20%) and Ceylon Hospitals (CHL +25.64%), while C T Holdings, Central Finance and Richard Pieris were among the session's laggards.
Ambeon Capital (TAP.N0000) is investing Rs. 600 million for a 14% stake in the Taprobane mineral sands project. UK-listed Capital Metals issued 638,029 shares and 150,000 warrants to adviser Hannam & Partners as payment related to the project.
Colombo market closed marginally up as the ASPI rose 0.26% to 22,850.95 on Rs. 9.2bn turnover, led by gains in Hayleys, Bairaha, Colombo Dockyard, Royal Ceramics, LAUGFS Gas and Dipped Products while DFCC, HNB, Commercial Bank and JKH declined; foreigners were net buyers (Rs. 13.8m).
Ambeon Capital (TAP.N0000) announced a mandatory offer for 18.27% of Myland (MDL.N0000) at Rs.8.50 per share for 6.62m shares (Rs.56.3m). Ambeon and connected parties earlier acquired an 82% stake in Myland for Rs.252m, including Ambeon picking up 51%.
Ambeon Capital said it will make a mandatory offer to buy the remaining 6,621,377 ordinary voting shares (18.27%) of Myland Developments at Rs 8.50 a share. The move follows earlier purchases that, with concert parties, raised the group’s holding to 81.73%, triggering the takeover code.
Ambeon Capital bought 18.5 million Myland Developments shares at LKR 8.50, raising its stake to 51.03% and, with concert parties, to 81.73%; it will make a mandatory offer to remaining shareholders. Myland shares traded up LKR 3.50 to LKR 17.50.
Ambeon Capital PLC (TAP.N0000) and connected parties acquired an 82% stake in Mylands PLC for Rs.252 million. The group has also acquired about Rs.900m of equity stakes in hotel assets including Ceylon Hotels Corporation (CHOT.N0000) as it expands into real estate and leisure.
The Colombo market closed with the ASPI at 20,992, up 16 points, on turnover of Rs.5.6 billion; weekly ASPI and S&P SL20 fell 0.03% and 1.19% respectively. Property, capital-goods and consumer services stocks led turnover while select hotels and developers saw mixed flows and sizable corporate stake transactions were reported.