Business

Kapruka Investor Forum concludes successfully

Published

5 years ago

2021/12/18

Kapruka Holdings Limited, Sri Lanka’s largest locally owned e-commerce enterprise with a global presence, successfully concluded its investor forum, ahead of its IPO, yesterday, 16th December 2021. The hybrid event, held both physically at Cinnamon Grand Colombo and virtually via video conferencing, witnessed broad-based participation across institutional, individual and retail investor categories, along with active participation by respected financial analysts. Subsequent to Kapruka’s corporate management team presenting their value proposition to the participants, an active Q&A session followed, allowing potential stakeholders to engage in in-depth conversations with key decision makers.

Expressing his satisfaction, Founder and CEO of Kapruka said, “I believe we have presented a compelling pitch to investors with great underlying value and fundamentals. We are very gratified by the warm and enthusiastic reception we received. There were some insightful questions also raised, which we were able to respond to, satisfactorily. We now look forward to the opening of the issue on 22nd December 2021, and are confident of receiving active interest from a wide-spectrum of investors. I take this opportunity to personally thank everyone who participated and thank all our future investors in advance.”

With the issue being managed by Acuity Partners, Kapruka Holdings Limited is expected to offer 32,826,000 ordinary voting shares through its IPO, at an offer price of LKR 15.40 per share. The Company plans to use the IPO proceeds to fund its expansion and growth plans, which include upgrading existing technology and infrastructure, alongside launching various Kapruka Platform Services, to carry forward new initiatives.

Founded in 2002, Kapruka is Sri Lanka’s first and largest locally owned e-commerce enterprise. The company, through its website, facilitates online purchases of goods for its Sri Lankan and expatriate customer base. The Company has a well-integrated supply chain and sells its own-label products, predominantly, Kapruka bakery items, flowers and value-added fruits and vegetables. The Company partners with over 500 high-end brands and executes order fulfilment and last mile delivery for its online orders. Kapruka strives to provide a non-marketplace model and a superior online shopping experience to consumers.

The Company caters to over 1.1 Mn expatriate Sri Lankans, predominantly in the USA, who regularly use Kapruka to send gifts to their family and friends in Sri Lanka. Further, the Company offers Sri Lankan brands on global e-commerce platforms such as Amazon, eBay, Etsy and Walmart, and is the e-distributor/e-commerce retailer for well-established brands such as Dilmah, Akbar Tea, Link Samahan and many more. Kapruka is also one of the few e-commerce companies in Sri Lanka that generates US dollar revenues by serving expatriate Sri Lankans and other global customers. The Company has its central office located in Colombo, along with offices in the USA, the UK and Australia.

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

4 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

5 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

5 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.