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Biggest IPO in share market history said to be in the offing

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By Hiran H.Senewiratne

LTL Holdings is planning to raise up to Rs. 20 billion, subject to regulatory approvals, in what could be the biggest Initial Public Offering (IPO) in the CSE’s history, informed sources said.

LTL Holdings is an affiliate of the Ceylon Electricity Board and originally manufactured transformers but expanded into the independent power generation business after the original foreign investors in the firm exited in a management buyout.

The firm plans to sell around 22 percent of its shares in the IPO.

The idea is to raise Rs 16 billion and an additional Rs. 4.0 billion through a green shoe option, Chief Executive Nuhuman Marikkar told the media.

Amid those developments, stock market activities initially kicked off on a positive note but later turned negative due to investor worries that certain parties’ election manifestos had disclosed that they are going to revive the IMF framework, which could result in another economic crisis, market analysts said.

Consequently, both indices moved downwards. The All Share Price Index went down by 9.6 points while S and P SL20 declined by 12.12 points.

Turnover stood at Rs 1 billion with two crossings. Those crossings were reported in Hayley’s, which crossed 1.5 million shares the tune of Rs 137 million and its shares traded at Rs 88.50 and Sampath Bank’s 1.12 million shares crossed for Rs 82.2 million; its shares fetched Rs 69.50.

In the retail market top six companies that mainly contributed to the turnover were; Sampath Bank Rs 390 million (5.6 million shares traded), TJ Lanka Rs 67.7 million (1.7 million shares traded), NTB Rs 39.7 million (354,000 shares traded), Commercial Bank Rs 36.84 million (426,000 shares traded), Lanka IOC Rs 35.3 million (336,000 shares traded) and Hayley Fabrics Rs 32.5 million (500,000 shares traded). During the day 23.7 million share volumes changed hands in 7200 transactions.

It is said that banking sector did well, especially Sampath Bank. Among manufacturing sector companies, Hayleys and TJ Lanka, performed well.

Yesterday, the dollar buying rate was Rs 295.90, while the selling rate was Rs. 305.12.



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Pelwatte Dairy commissions Sri Lanka’s largest dairy effluent treatment plant to advance ESG leadership and global market readiness

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Akmal Wickramanayake, Managing Director of Pelwatte Dairy Industries Limited, unveils the commemorative plaque to officially inaugurate the company’s Effluent Treatment Plant (ETP) at its Buttala manufacturing facility, reaffirming Pelwatte Dairy’s commitment to environmental stewardship, ESG compliance, and sustainable dairy processing.

Pelwatte Dairy Industries Limited has successfully commissioned its state-of-the-art Effluent Treatment Plant (ETP) at its Buttala manufacturing facility, marking a significant milestone in the company’s journey toward environmental stewardship, ESG compliance, and responsible dairy processing.

This facility is the largest Effluent Treatment Plant within a dairy processing operation in Sri Lanka, underscoring Pelwatte Dairy’s commitment to aligning its operations with global environmental standards and strengthening its position in international markets.

Strategic Commitment to ESG and Responsible Growth

This investment reflects a deliberate and forward-looking strategy by the Board of Directors to embed Environmental, Social, and Governance (ESG) principles into core operations. As Pelwatte Dairy continues to scale its processing capacity and expand its export footprint, environmental compliance has become a central pillar of sustainable growth.

The ETP has been designed to meet the increasingly stringent environmental expectations of Western, European, and Far Eastern markets, where compliance with wastewater discharge standards, environmental reporting, and sustainability practices are essential for market access.

Future-Proofed Design for Scalable Growth

The facility has a base treatment capacity of 250 m³ per day, with the engineered capability to handle peak volumes of up to 325 m³, representing approximately 30% additional capacity to accommodate future growth in processing volumes. [ETP Opening | Word]

This future-ready design ensures that Pelwatte Dairy can maintain consistent environmental performance even under high production scenarios, reinforcing the company’s commitment to long-term compliance, operational resilience, and responsible expansion.

Advanced Technology Supporting Global Compliance

The ETP integrates advanced treatment technologies, including:

Integrated Dissolved Air Flotation (IDAF)

Anaerobic and Enhanced Sequential Batch Reactor (AnSBR/eSBR) systems

Dedicated CIP wastewater management

Real-time automated process monitoring

Screw press sludge dewatering

These systems ensure high treatment efficiency and compliance with critical environmental parameters such as Biological Oxygen Demand (BOD), Chemical Oxygen Demand (COD), and nutrient discharge limits.

The plant is fully aligned with Sri Lanka’s stringent Central Environmental Authority (CEA) discharge standards and supports adherence to ISO 14001 Environmental Management System (EMS) practices, reinforcing Pelwatte Dairy’s structured approach to environmental management and continuous improvement.

Regulatory Engagement and Endorsement

The inauguration ceremony was attended by distinguished representatives from the Board of Investment (BOI) Environmental Division and Central Environmental Authority (CEA) provincial and district offices, reflecting strong regulatory engagement and endorsement of the environmental standards achieved through this investment.

Their presence underscores Pelwatte Dairy’s proactive approach in working closely with regulatory authorities to ensure compliance with national environmental frameworks while aligning with global best practices.

Enhancing Global Credibility of Sri Lankan Dairy

With this development, Pelwatte Dairy strengthens its position as a responsible and globally competitive dairy processor, capable of meeting the environmental expectations of leading international buyers and regulatory bodies.

This initiative not only enhances the company’s ESG profile but also contributes to elevating the sustainability standards of Sri Lanka’s dairy industry.

Acknowledgements

Pelwatte Dairy extends its sincere appreciation to its project team, operational staff, consultants, regulatory authorities, and partners for their contributions. Special recognition is extended to Industrial Solutions Lanka (Pvt) Limited for their engineering expertise and successful project delivery.

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Port City Colombo Forum in Dubai positions Sri Lanka as South Asia’s gateway for UAE business expansion

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Prof. Arusha Cooray, Ambassador of Sri Lanka to the United Arab Emirates

Exclusive invitation-only engagement at the Ritz-Carlton DIFC brought together approximately 200 senior UAE business and diplomatic leaders to explore Sri Lanka’s role as a platform for regional growth

The Embassy of Sri Lanka in the United Arab Emirates and the Consulate General of Sri Lanka in Dubai and the Northern Emirates, in collaboration with Colombo Port City Economic Commission and CHEC Port City Colombo Pvt. Ltd., hosted Globalisation and the Sri Lankan Opportunity – From Recovery to Relevance: Sri Lanka’s Moment in the Evolving Global and Regional Economy, an invitation-only diplomatic and investment engagement at The Ritz-Carlton, Dubai International Financial Centre.

The forum brought together approximately 200 senior leaders from across UAE corporates and business chambers alongside Sri Lanka’s most senior diplomatic and investment representatives – among them senior executives from Sobha Realty, Binghatti, Oracle, Emirates Airlines, First Abu Dhabi Bank, JLL, Cushman & Wakefield, CBRE, IFS, Danube and Samana Developers – reflecting the depth of interest from the UAE’s leading industries in Sri Lanka’s evolving economic proposition.

Opening the forum, Prof. Arusha Cooray, Ambassador of Sri Lanka to the United Arab Emirates, set the tone for a morning of substantive dialogue, speaking to the depth and durability of the UAE–Sri Lanka partnership, one built on decades of trade, people, and shared economic ambition, and affirming Sri Lanka’s commitment to taking that relationship into a new chapter defined by what Sri Lanka can offer UAE businesses seeking to grow their presence across South Asia.

The keynote address was delivered by Ghanim Al Falasi, CEO of Falak Tayyeb Platinum and Senior Vice President/Director General’s Office for of Dubai Silicon Oasis (DSO), who drew on over a decade of senior leadership experience in the UAE’s innovation and technology ecosystem to frame the question of what South Asia’s emerging platforms offer to forward-looking UAE businesses. He noted that while Dubai provides global access to capital and logistics, Colombo offers strategic access to South Asia, and that together the two cities can function as complementary platforms serving different but mutually reinforcing roles in the regional economy.

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The Ceylon Chamber of Commerce to hold 187th AGM

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The Ceylon Chamber of Commerce will convene its 187th Annual General Meeting on Thursday, 25th June 2026, at 5.30 PM at The Forum, Cinnamon Life.

This year’s gathering welcomes His Excellency Andrew Patrick, High Commissioner of the United Kingdom to Sri Lanka, as Chief Guest, who will deliver the keynote address. His presence reflects the close and longstanding ties between Sri Lanka and the United Kingdom, and is especially fitting at a juncture when strengthening trade ties, investor confidence, and sustained economic reform remain front of mind for the nation’s business community.

Chairperson of the Ceylon Chamber, Krishan Balendra, will also address the audience, reflecting on a year of progress and setting out the priorities ahead. His remarks will provide an overview of the Ceylon Chamber’s continued push to sharpen private sector competitiveness, drive evidence-based policy advocacy, and anchor long-term economic stability.

Following the formal proceedings, members and guests are invited to a networking reception.

Ceylon Chamber members wishing to attend may register by contacting Alikie at alikie@chamber.lk / 9411 558 8805.

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