Senkadagala Finance PLC is to raise Rs 579 million by way of a rights issue.
The company will issue 7,247,506 ordinary shares at a price of Rs 80 per share in the proportion of one ordinary share for every nine existing shares to maintain the capital adequacy requirements in terms of the finance companies (Risk Weighted Capital Adequacy Ratio) direction No 02 of 2006.
The current stated capital of the company is Rs 1,008 million.
The rights issue is subject to the Colombo Stock Exchange approving in principle the issuing and listing of the shares and the company obtaining shareholders approval at a General Meeting. (IH)
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