Colombo Trust Finance to raise Rs.600mn to beef up capital

2018-03-08 00:05:50

Colombo Trust Finance PLC yesterday announced plans to raise Rs.600 million via a rights issue subject to the approval of the Colombo Stock Exchange and shareholders. 

The company said it would issue 25.7 million new ordinary voting shares in the proportion of 309 new shares for every 599 shares held at a price of Rs.23.30 per share. The company’s current stated capital is Rs.309.9 million.

The money raised through the rights is to be utilized to beef up the core capital of the firm in compliance with the Central Bank requirements. 

In September last year, Dialog Axiata PLC acquired 80 percent of Colombo Trust Finance from Cargills Bank paying Rs.28.70 per share.

With the mandatory offer that followed, Dialog Axiata as at December 31, 2017, held 98.87 percent of the issued shares of Colombo Trust Finance. 


  Comments - 0

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.
Name is required

Email is required
Comment cannot be empty

Culinary magic of Vietnam at Graze Kitchen, Hilton Colombo!

Saturday, 17 March 2018 15:32

A sensational array of delicacies from the far east will delight your taste buds with a blend of exo

Hawkers’ Market on Monday at GRAZE KITCHEN, Hilton Colombo

Saturday, 17 March 2018 15:22

Often, the finest dining a country has to offer is the local street  fare  that everyday p

Kent Engineers, renowned Mechanical, Electrical & Plumbing contractor wins two National Awards for construction

Thursday, 15 March 2018 15:14

Kent Engineers (Pvt) Ltd, the renowned mechanical, electrical and plumbing (MEP) contractor, was rec

More News