Sri Lanka, Nov. 4 -- Capital Alliance Holdings PLC (CAL), a leading South Asian investment bank, has announced a landmark agreement to acquire a controlling 51% stake in Asia Frontier Capital Ltd. (AFC), a Hong Kong-based fund manager specializing in frontier equity markets. The acquisition, executed through CAL's wholly owned Singapore subsidiary, CAL Global Pte. Ltd., is valued at approximately $2.5 million, subject to minor final adjustments. Completion of the transaction remains subject to customary regulatory approvals, including authorization from the Securities and Futures Commission (SFC) of Hong Kong.

The deal marks a major milestone in CAL's international growth strategy, expanding its operational reach and solidifying its lead...