Nation Lanka Finance PLC (COSE:CSF.N0000) agreed to acquire Kanrich Finance Limited on December 20, 2022. As of February 20, 2023, Nation Lanka Finance announced that it will issue 322,573.5456 shares for every Kanrich Finance's 10,000 ordinary voting shares and will issue 456,933.973 shares for every 10,000 preference shares of Kanrich Finance. Nation Lanka Finance will be surviving entity.

Monetary Board of the Central Bank of Sri Lanka approved the merger. The transaction expected to complete on or before March 31, 2023. As on March 31, 2023, the transaction is expected to complete on May 31, 2023.