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.
Add commentComments 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.
Coca-Cola Beverages Sri Lanka Ltd. joined hands with the Sri Lanka Red Cross Society - Gampaha Branc
DFCC Bank inaugurated two new branches in the towns of Buttala and Wellawaya on 14th June 2018, brin
DarazMobile Week 2018 is just around the corner, with discounts of up to 70% off on some of the most