Amana Takaful has concluded a rights Issue from which the company raised more than LKR1bn ($3m). The offer was oversubscribed by 68.8%, signalling solid investor confidence in the company.
In the rights issue, Amana Takaful allotted over 52.8m new ordinary shares priced at LKR19 each. Shareholders were offered three new shares for every 14 held.
The primary objective of the rights issue is to strengthen the company’s equity base and thereby improve its capital adequacy ratio under the risk-based capital framework introduced by the Insurance Regulatory Commission of Sri Lanka, in light of the potential financial impacts from the implementation of Sri Lankan Financial Reporting Standards (SLFRS )17 and SLFRS 9. Proceeds from the issue are also to be used to support the company’s growth.
The company announced the rights issue in February 2026. Shareholders of the company approved the exercise in April. The rights issue process continued into May. The newly issued shares began trading on the Colombo Stock Exchange on 1 June.