Fri, 29 Mar 2024 Today's Paper

Browns Investments to raise Rs.19bn via rights issue

By

13 March 2020 09:50 am - 0     - {{hitsCtrl.values.hits}}

A A A

The director board of Browns Investments PLC has decided to raise Rs.19.1 billion through a rights issue.


Accordingly, the company plans to issue 9.57 billion new ordinary voting shares in the proportion of 2:1 at Rs.2 per share.


Browns Investments share closed at Rs.2.20, down Rs.1.20 or 35.29 percent yesterday.


The current stated capital of the company is Rs.11.8 billion represented by 4.78 billion ordinary voting shares.


The company said the rights proceeds will be used to settle debts.


LOLC Group controlled by Ishara Nanayakkara and his privately held investment vehicles have over 57 percent of the issued shares of the company. 


The rights issue is subject to Colombo Stock Exchange approving in principle the issue and the listing of shares and obtaining shareholders’ approval at an Extra Ordinary General Meeting.


Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H