MONETABRIEF – Sri Lanka's Capital Alliance Holdings Plc said it had inked an agreement to buy 51 percent of Asia Frontier Capital, a Hong Kong based fund manager.
CAL will pay 2.5 million US dollars for the stake.
"The envisaged acquisition is a significant milestone in CAL's global expansion strategy," the Group Chief Executive Kankishke Manakkara said in a stock exchange filing.
"Upon completion, CAL plans to leverage AFC's capabilities to improve its capacity to source global capital flows into Sri Lanka, Bangladesh and other frontier economies in the region.
"CAL also expects significant synergistic benefits to be unlocked as a result of shareing the deep expertise brought into the mix by both firms."
Asian Frontier Capital Ltd, is a Caymen Islands based asset management company.
It manages frontier markets focussed funds of 125 million dollars through Asia Frontier Investments Limited, Hong Kong.
AFC has invested in Sri Lanka, Bangladesh, Vietnam, Uzbekistan and Iraq. (Colombo/Nov02/2026)