A regulatory filing submitted to the Colombo Stock Exchange (CSE) reveals a phased equity accumulation strategy by Sri Lanka's Employees' Provident Fund (EPF), which has officially reached a 10% shareholding benchmark across both the voting and non-voting share classes of Tokyo Cement Company (Lanka) PLC.
The official disclosure, submitted on November 3, 2026, to CSE , outlines a multi-stage acquisition executed through secondary market transactions pursuant to Appendix 8A of the Listing Rules.
An analysis of the disclosure timeline reveals that the fund systematically expanded its position in Tokyo Cement's non-voting equity prior to ramping up its exposure to the company's voting shares.
- Non-Voting Share: As of December 31, 2025, the EPF held 6,207,876 non-voting shares, representing 4.22% of total issued non-voting stock. By March 31, 2026, market purchases elevated this position to 14,701,500 non-voting shares, reaching the 10% threshold of issued non-voting equity.
- Voting Share: As the non-voting target was reached, the fund expanded its voting stake. On March 31, 2026, the EPF held 22,879,611 voting shares, accounting for 7.78% of total issued voting stock. Subsequent accumulation through June 30, 2026, increased this position to 29,403,000 voting shares, bringing the fund's voting stake to exactly 10%.
The disclosure confirms that through this sequence of secondary market purchases, the EPF attained an identical 10% shareholding threshold in both equity classes listed under exchange ticker TKYO.
