ECONOMYNEXT – Sri Lanka’s Colombo Dockyard said it will offer 323 million shares at 40 rupees to existing shareholders, and controlling shareholder Onomichi of Japan will renounce their entitlement in favour of India’s Mazagon Dock Shipbuilders Limited.
Mazagon was also ready to take any rights not taken up by other shareholders.
The rights issue will inject 12.9 billion rupees to the cash-strapped Dockyard.
Mazagon is expected to make a mandatory offer to existing shareholders.
Mazagon said in a filing in India’s National Stock Exchange that it expects to spend up 52.9 million dollars to take control of Colombo Dockyard. (Colombo/Jul7/2025)
