News & market updates

Ambeon Capital said it acquired a 6.8% stake (12,310,543 shares) in Ceylon Hotels Corporation for Rs 320 million, paying Rs 26 per share; Ceylon Hotels shares were trading at Rs 32, down Rs 0.60.

Ambeon Capital (TAP.N0000) acquired 12.3 million shares (6.84%) of Ceylon Hotels Corporation (CHOT.N0000) while Ambeon Holdings bought 45.9 million shares (6.09%) of The Kandy Hotels Company, marking Ambeon Group's strategic entry into the hospitality sector.

Ambeon Capital (TAP.N0000) acquired 12.3m shares (6.84%) of Ceylon Hotels Corporation (CHOT.N0000) for Rs.320m as part of group hospitality purchases totaling about Rs.900m, with Ambeon Holdings also buying a 6.09% stake in The Kandy Hotels Company for Rs.550m.

Ambeon Capital PLC reported Q1 FY2025/26 PAT of LKR 731 Mn vs LKR 83 Mn a year earlier. Ambeon Holdings PLC posted PAT of LKR 677 Mn (from LKR 183 Mn) with revenue up 32% to LKR 3,985 Mn; Colombo City Holdings PLC (real estate) reported PAT LKR 67 Mn.

Ambeon Capital PLC reported Q1 PAT of Rs.731m (vs Rs.83m a year ago), while Ambeon Holdings PLC posted Q1 PAT of Rs.677m (vs Rs.183m); Ambeon Holdings revenue rose 32% to Rs.3,985m. Group said gains were driven by fair-value gains from strategic investments and noted a 14.1% stake in Capital Metals.

ASPI rose 136.16 points (2%) to close at 19,379 on turnover of Rs.6.21bn, with banks dominating activity. CINS, CFIN, NDB, COMB and CTC were top positive contributors; NDB rose, DFCC fell and Ambeon (TAP) gained.

ASPI rose 234 points (1.4%) to 17,214 on turnover of Rs.7.37bn, led by banking stocks with HNB, SAMP and COMB among top contributors. Turnover was 72% above the monthly average and foreigners recorded a net outflow of about Rs.273.6m.

ATX Partners and ARCASIA bought a 58% stake in Alpha Fire Services (AFS) for over Rs.220m — ATX and ARCASIA each acquired 25% (9.492m shares at Rs.10) while JBJ bought 3.15m shares; 23.276m shares traded for Rs.234.5m and AFS closed up 25% at Rs.13.10.

Ambeon Capital (TAP.N0000) will invest Rs.600 million to acquire 59,701,000 ordinary shares (14.1%) in UK-listed Capital Metals to fund the Taprobane Minerals Project in Eastern Province. The shares will be listed on the London Stock Exchange and the investment is to be made by 4 June 2025.

Ambeon Capital PLC will invest Rs600 million in the Taprobane mineral sand project in Eastern Province and receive 59,701,000 shares (14.1%) in Capital Metals PLC. The project covers mining, processing and sale of ilmenite, rutile, zircon and garnet and links Ambeon to Capital Metals' global expansion.

Ambeon Capital PLC invested LKR 600 million in the Taprobane Minerals Project via Redgate Lanka and will receive 59.7 million ordinary shares in Capital Metals (a 14.1% stake) to be listed on the London Stock Exchange. The project targets high-grade ilmenite, rutile, zircon and garnet.

Ravi Goonetilleke has been appointed as an Independent Non-Executive Director of Ambeon Capital PLC and its subsidiary Ambeon Holdings PLC. He brings over 30 years of banking experience, including 26 years at Deutsche Bank in Colombo.

ASPI fell 1.7% to 14,876 with the S&P SL20 down 2.4%; turnover was Rs.3 billion and there was a Rs.1 billion net foreign inflow led by John Keells (Rs.665m). Banking names (Sampath, Commercial Bank, Hatton) and Hayleys were among the main laggards while capital goods drove turnover.

Ambeon Capital (TAP.N0000) plans an $18 million convertible offshore loan from UK-based AMCH Limited at 8% interest, repayable in three years or convertible into shares. Proceeds would repay Rs 3.7 million locally and the balance invested in liquid securities to service interest and capital, subject to the lender raising the funds.

Ambeon Capital PLC will obtain up to $18m from AMCH Ltd to settle Rs.3.7bn of existing borrowings and invest any remaining proceeds in liquid assets. The loan is fixed at 8% p.a., has a three-year term and is convertible to equity subject to approvals.

Sri Lanka stocks closed marginally up as the ASPI rose 0.21% to 15,912.61 while the S&P SL20 fell 0.16% to 4,759.06; turnover was 1.9 billion rupees and net foreign outflow was 140 million rupees.

Colombo Stock Exchange closed down 0.70% to ASPI 17,074.02 on turnover Rs3.6bn, with a net foreign inflow of Rs307mn. Top turnover and movers included Dialog, Commercial Bank, Hemas, HNB and John Keells; LB Finance announced a Rs2.25 interim dividend.

Colombo market closed the week higher as ASPI and S&P SL20 rose about 2% (ASPI 16,937, +358 pts) with turnover Rs.5 billion, led by banks, capital goods and food & beverage stocks ahead of the 2025 Budget.

ASPI rose ~232 points (1.41%) to 16,578 as the Colombo market returned to positive territory with turnover of Rs.3.58bn. Ceylinco, Central Finance, Sampath, LOLC and NDB were top positive contributors while CTC, HNB and SPEN weighed on the index; Ambeon, JKH and Printcare also gained.

Colombo bourse fell as the ASPI dropped 1.01% to 16,566 with turnover of Rs.2.07bn and foreigners closing as net sellers. CINS and JKH were among the main negatives while SAMP and GUAR were top positives; banking led turnover (29%) and capital goods plus food & beverage accounted for 33%.

Sri Lanka stocks fell, with the ASPI down 1.01% to 16,566.27 as investors awaited next week's government budget; turnover was low at Rs 2.07 billion and net foreign outflows totalled Rs 35.5 million, with financials and capital goods weighing on the market.

Colombo's ASPI rose 7.4% in January, with yesterday's turnover at Rs.5.1bn and foreign net selling of Rs.405.6m. Price gains in counters including Central Finance, Colombo Fort Land & Building, Ambeon Holdings, Teejay Lanka and Ambeon Capital and activity in Access Engineering and John Keells supported the market recovery.

Sri Lanka's ASPI closed up 0.04% (7.52 pts) at 17,122.73 despite month-end selling, with turnover Rs 5.1bn and a net domestic inflow of Rs 405m (foreign outflow Rs 405m). Banking, diversified counters and capital goods drew interest; notable movers included LOFC +2.9%, CFIN +3.2%, TJL +3.8% and TAP +7.0%.