The Employees’ Provident Fund has lifted its holding in Tokyo Cement Company (Lanka) PLC to 10% of both the company’s voting and non-voting share capital, according to a market filing by the company.

The increases were made through a series of market transactions, EconomyNext reported on Wednesday, citing a disclosure Tokyo Cement lodged with the Colombo Stock Exchange on 3 November.

“Accordingly, the Employees’ Provident Fund (EPF) has attained a shareholding threshold in both the voting and non-voting shares of the Company,” the filing said.

The two lines moved at different times

The disclosure sets out the build-up over separate periods for each share class:

Non-voting shares — the EPF held 6,207,876 shares, or 4.22% of the issued non-voting capital, as at 31 December 2025. That rose to about 14.7 million shares, or 10%, as at 31 March 2026.

Voting shares — the fund held 22,879,611 shares, or 7.78%, as at 31 March 2026. That rose to 29,403,000 shares, or 10%, as at 30 June 2026.

The two classes therefore crossed the threshold a quarter apart, with the non-voting stake more than doubling in proportional terms over a single quarter.

A note on the figures: EconomyNext renders the non-voting holding as “14,7001,500” shares, which is not a well-formed number. The surrounding percentages imply roughly 14.70 million — 10% of about 147 million non-voting shares, consistent with 6,207,876 representing 4.22% of the same total — so the figure is given here as approximately 14.7 million.

A pattern, not a one-off

EconomyNext notes that the EPF has also raised its holding in A C L Cables PLC to 10% of issued share capital — another construction-sector supplier. Two 10% positions in building-materials companies point to sector allocation rather than an opportunistic single purchase, though the fund has not published a rationale for either.

Tokyo Cement was also active on the market this week, appearing among the larger crossings on Wednesday’s 2.09% rally at around Rs 87 million, and among the day’s top turnover counters.

Scale and scrutiny

The EPF is Sri Lanka’s largest state-managed pension fund, a compulsory savings scheme covering more than 2.5 million private-sector members with assets exceeding Rs 4.9 trillion, managed under the purview of the Central Bank.

That scale is why threshold disclosures of this kind matter: at 10% of a listed company’s capital, the fund becomes one of its most significant shareholders — and the disclosure here came from Tokyo Cement, not from the fund.

The filing does not say what the EPF paid, over how many transactions the stakes were built, or whether it intends to go further in either share class.