The Basel III compliant Tier 2 debenture issue of DFCC Bank to raise up to Rs 7 billion was oversubscribed on the opening day Monday, according to a Colombo Stock Exchange filing.
The bank received applications for over Rs 7 billion for the debentures and accordingly the initial issue of Rs 5 billion and as well as the further issue of Rs 2 billion was oversubscribed and the issue closed the same day.
DFFC bank offered 50 million debentures at the par value of Rs100 each with an option to issue a further 20 million in the event of an over-subscription.
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