Cargills Bank announces share listing plans

• To offer 62.5mn shares at Rs.8.00 per share

Cargills Bank Limited, the banking arm of Cargills Group, has announced plans for a listing on the Colombo Stock Exchange (CSE).
An application in this regard by the company has been approved in principle by the CSE.
The share issue will be carried out by way of an offer for subscription on either Main Board of Diri Savi Board of the CSE.

Cargills Bank would offer 62.5 million shares at a price of Rs.8.00 per share.
The date of the official opening of the subscription list of the offer is December 14, 2023.
Join Managers and Financial Advisors to the issue are CT CLSA Capital Private Limited and NDB Investment Bank Limited.
S S P Corporate Services will function as the Registrars to the issue.

Cargills Bank was first conceptualised in 2011 and launched in 2014 with a vision to
be the most inclusive bank in the country by leveraging the distribution and brand strength
of Cargills. 
Both Cariglls Ceylon PLC and its holdings company CT Holdings PLC jointly own 65 percent of Cargills Bank while the Monetary Board on behalf of the Employees’ Provident Fund holds 5 percent stake. 
By the end of 2022, Cargills Bank had an asset base of Rs.53.7 billion and a total deposit base of Rs.37.8 billion. It also had 23 branches, over 500 touch points, about 600 employees and a customer base of around 200, 000.