Tue, 21 Sep 2021 Today's Paper

ComBank receives US $ 50mn equity from IFC

6 October 2020 04:55 pm - 1     - {{hitsCtrl.values.hits}}

A A A

The Commercial Bank of Ceylon today announced the completion of all formalities relating to the private placement of shares with the International Finance Corporation (IFC) and the receipt of US$ 50 million (Rs.9.215 billion) from the latter for 115,197,186 ordinary voting shares in the Bank.

This is the first foreign equity placement by Commercial Bank, the first post-pandemic equity placement by the IFC and is one of the largest foreign investments into Sri Lanka since the start of the COVID-19 pandemic, the Bank said.

The investment collectively makes the IFC, the IFC Financial Institutions Growth Fund LP (FIG Fund) and the IFC Emerging Asia Fund LP (EA Fund) the largest shareholder of the Commercial Bank of Ceylon and further strengthens the Bank’s shareholder composition by increasing its foreign shareholding up to 30 percent, enhancing credibility and confidence, especially among foreign investors.

The completed share allotment announced by Commercial Bank to the Colombo Stock Exchange (CSE) indicates the IFC receiving 34,559,156 shares and the IFC FIG Fund and the IFC EA Fund receiving 40,319,015 each.

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 - 1

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.

 

  • Deshaya Sunday, 11 October 2020 10:38 AM

    Soon they will acquire more than 50 percent of the Bank and employees have to face so many hardships.


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




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.

 


Mysterious disease killing pups!

A mysterious respiratory disease affecting puppies in the Central Province is

Jacqueline Fernandez; Lankan Star Shining in Indian Film Sky

Sri Lanka’s Jacqueline Fernandez who has made a name for herself in India

Young families share stories of pregnancy in a pandemic

For hundreds of expectant and new mothers, pregnancy and childbirth are nothi

“Your travel plans should not come first” – Dr. Dinu Guruge

In a recent live discussion on fighting the Covid-19 pandemic hosted by Daily