Young investor Hardy Jamaldeen has acquired around a 7% stake in Softlogic Finance PLC from parent Softlogic Capital PLC for over Rs. 325 million.
As per a disclosure to the Colombo Stock Exchange (CSE), Softlogic Capital PLC via multiple transactions on 27 February sold down to an 81.71% stake as against 91.49% previously.
On 27 February, the Softlogic Finance share trading turnover was Rs. 654 million, accounting for 9% of the total. Of that, Hardy purchased 65.38 million shares or 6.79% stake at Rs. 5 per share. That purchase triggered retail interest, pushing the Softlogic Finance share price to a high of
Rs. 7.10.
It is the biggest holding of Hardy outside his mainstay – Lanka Realty Investments PLC, which owns 51% stake in On’ally Holdings PLC.
Post latest transaction, the Softlogic Group holding in Softlogic Finance reduced to 84.10% from 92.41%. The stock ended Rs. 0.40 up at Rs. 6.50 yesterday. Net asset value per share is Rs. 3.06.
Separately, the CSE yesterday said Softlogic Finance PLC will be transferred to the Main Board from today after the company complied with the minimum public holding requirement stipulated in the CSE Listing Rules.
The company is emerging from a serious loss-of-capital situation after setting off retained losses against stated capital in line with Section 59 of the Companies Act, No. 7 of 2007 following an Extraordinary General Meeting held on 25 February. In the 3Q of FY26, the company made a profit of Rs. 5 million, up from Rs. 4.2 million a year ago, though the nine-month figure was down to Rs. 12.4 million from Rs. 42 million a year ago.
The Central Bank of Sri Lanka (CBSL) lifted all caps previously imposed on the company on 19 September 2025, meaning it no longer has lending or deposit restrictions. Analysts expect the company to perform better in FY27.
Its core capital remained above the regulatory minimum threshold of Rs. 2.5 billion as at 31 December 2025.
Capital adequacy ratios also remained well above regulatory minimums of 8.5% and 12.5%, with the company reporting a ratio of 51.69% as of 31 December 2025.
The company has also obtained a credit rating of ‘B’ from Lanka Rating Agency after three years
DAILY FT