Softlogic Finance goes for Rs 500 m Rights Issue
Ravi LADDUWAHETTY
Softlogic Finance will go in for a Rs 500 million Rights Issue at the end of this month.
The reason for the Rs 500 million will be to meet the Central Bank of Sri Lanka's Capital Adequacy Ratios and this will be to raise Tier I capital, Chairman Ashok Pathirage told Daily News Business yesterday. "The reason for the Rights Issue has been due to the phenomenal growth of our business and we will be holding an Extra ordinary General Meeting of shareholders soon to get their approval and we will be having the Rights Issue end July," he said.
Market sources said that with the Rights Issue and with the Asian Alliance acquisition, Softlogic Finance would be billed to be among the top five finance companies in Sri Lanka.
source - www.dailynews.lk
Company ID: - CRL
Date of Announcement: - 24.Jun.2011
Proportion: - Two (02) new ordinary share for every five (05) shares held
Issue Price: - Rs. 50.00/-
Qty Offered: - 10,701,129
EGM Provisional Allotment: - 29.Jul.2011
XR: - 01.Aug.2011
Dispatch of Provisional Letter of Allotment: - 05.Aug.2011
Rights Trading Commences on: - 11. Aug.2011
Renunciation: - 18.Aug.2011
Last Date of Acceptance & Payment: - 19. Aug.2011
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