8 October 2019 09:55 am
The finance sector holding company of Softlogic Holdings PLC, Softlogic Capital PLC, yesterday revealed plans to raise Rs.1.5 billion via a listed debenture issue.
The company plans to issue 15 million listed, rated, senior, unsecured, redeemable debentures, each priced at Rs.100.
The company said the issue is subject to necessary regulatory approvals.
Softlogic Capital was incorporated as Capital Reach Holdings Limited in April 2005, as an investment holding company.
Subsequently, in August 2010, Softlogic Holdings PLC acquired the company under its objective to form a fully-fledged finance arm to the Softlogic group.
Softlogic Capital’s portfolio of financial services comprises of Softlogic Finance PLC, Softlogic Life Insurance PLC, Softlogic Stockbrokers (Pvt.) Ltd and Softlogic Asset Management (Pvt.) Ltd.
With group assets of Rs.42.8 billion, as at June 30, 2019, Softlogic Capital’s net asset per value stands at Rs.7.84.
For the year ended March 31, 2019, Softlogic Capital made a net profit of Rs.1.57 billion, up from Rs.1.05 billion a year ago, on a total revenue of Rs.15 billion, up 17 percent year-on-year.