LB Finance to raise Rs.3bn via listed debentures

Non-bank lender LB Finance PLC yesterday revealed plans to raise up to Rs.3 billion through a debenture issue.

The finance company said it will issue 20 million debentures with an option to issue up to a further 10 million debentures in the event of an oversubscription of the initial issue, at an issue price of Rs.100 a share.

The Colombo Stock Exchange has given its preliminary approval to list the debentures.

The subscription list of the issue will open on December 04, 2017. Capital Alliance functions as the mangers to the issue. LB Finance is also a leader in the country’s micro-finance sphere. The company recently announced plans to enter into the micro-finance space in Myanmar.