FINANCIAL CHRONICLE – Industrial Asphalts (Ceylon) of Sri Lanka has completed the sale of 1,800,693,010 shares, which constitutes a majority holding of 48.03 percent, to Arcasia Investment & Trading and ATX Partners. These shares were previously owned by Executive Director Govindasamy Ramanan.
The transaction was finalized on July 7, as noted in a recent market disclosure. Both Arcasia and ATX Partners are also investors in Ambeon Capital, having secured an 11.97 percent share in the company in 2024.
In light of this announcement, trading of Industrial Asphalts shares was suspended until 11:00 AM on Wednesday, with the most recent trading price recorded at 50 cents. (Colombo/July08/2026)
