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Colombo Dockyard to raise Rs. 13 b via Rights Issue
Daily FT
|July 08, 2025
Proposed issue at Rs. 40 each per share is part of $ 53 m deal to bring in India's Mazagon to acquire controlling interest Post-announcement, DOCK share price dips by 14% to Rs. 80.90
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COLOMBO Dockyard PLC (DOCK) yesterday announced a Rights Issue to raise Rs. 13 billion as part of the deal to bring in India's Mazagon as controlling shareholder.
The Rights Issue will be on the basis of nine new shares for every two held at Rs. 40 each. The move will see the issuance of 323,365,158 new shares, given the current stated capital being Rs. 714.395 million.
The decision was made by the DOCK Board of Directors at their meeting on 4 July.
Post-announcement yesterday, the DOCK share price declined by Rs. 13.20 or 14% to Rs. 80.90. Around 1.64 million DOCK shares changed hands via 1,230 trades for Rs. 134 million.
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