SDB bank’s recently concluded digital rights issue which managed to raise a substantial Rs.1.5 Billion has received praise industry-wide for its freshness in approach and the great receptiveness of their shareholders.
This rights issue was conducted digitally amidst the ongoing COVID-19 pandemic and shareholders responded in record numbers, leading to the distinction of the first local digital rights issue to be oversubscribed.
Apart from the bank creating capital market history by becoming the first Colombo Stock Exchange-listed entity to successfully host and complete a rights issue digitally, the event was officially recognized as the first local digital share subscription to be oversubscribed.
In early November, the bank informed their shareholders of a bold decision to facilitate the application of their rights entitlement plus additional shares entirely digitally, in coordination with the Colombo Stock Exchange (CSE).
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