SDB Bank plans to raise Rs.1.5bn via rights

27 July 2020 09:40 am - 0     - {{hitsCtrl.values.hits}}

A A A

Sanasa Development Bank PLC (SDB Bank) is planning to raise upto Rs.1.53 billion via a right issue to enhance the bank’s capital adequacy ratios and partly finance its loan portfolio growth. 


SDB Bank last Friday announced that it plans to issue up to 30,525,344 shares at a considered price of Rs.50 per share, subject to pending shareholder 
and regulatory approvals. 


The bank’s share last traded at Rs.55. 


The proportion in which shares are to be issued is one new ordinary voting share for every two ordinary voting shares held.


The move is expected to further strengthen the equity base of the bank and thereby improve its capital adequacy. 


The proceeds will also be used to part finance the growth in the loan portfolio of the bank.


The stated capital of the bank is Rs 6.2 billion represented by 61,050,688 ordinary voting shares, including the shares to be listed in due course arising out of the 
scrip dividend. 

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

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food 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




Bio Bubble Bursts on tissa safari drivers

Ukrainian tourists are visiting Sri Lanka at present with the involvement of

Army’s LRRP Ambush of LTTE’s Military Intelligence Chief

A news report in the Dailymirror last August stated that the Long Range Recon

“I don’t think Sri Lankans can be realistically ruled by force” -Ahimsa Wickrematunge

Twelve years after the assassination of Lasantha Wickrematunge, the founding

Decisions to be made in Sri Lanka’s hunt for the COVID-19 Vaccine

Around the world, governments are gearing up to roll out nationwide immunizat

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