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Ceylon Land announces plans for proposed Rs. 4.3 b Rights Issue
Daily FT
|February 17, 2026
@ Rs. 1.7 b to retire short-term debt; Rs. 39.7 m for interest @ Rs. 1.75 b into Galle Face Icon project; Rs. 702 m into Cargo Boat @ Record date 5 March 2026; no underwriting; majority to take up fully
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CEYLON Land and Equity PLC has announced its plans for the proceeds raised from the proposed 2-for-1 Rights Issue to raise Rs. 4.3 billion at Rs. 7 per share, with proceeds earmarked for debt reduction and strategic investments in property and portfolio management.
In a circular to shareholders dated 12 February 2026, the company said it will issue 614,156,734 Ordinary Voting Shares in the proportion of two new shares for every one existing share, subject to shareholder approval at an Extraordinary General Meeting.
This story is from the February 17, 2026 edition of Daily FT.
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