Abans Finance to raise Rs 185 mn in rights issue

Abans Finance to raise Rs 185 mn in rights issue

MarketNews Right Issue

Abans Finance PLC will raise Rs 185 million. This is by way of a rights issue, the company said in a stock exchange filing.

Subject to the necessary approvals, the company is to issue 7,400,000 ordinary shares at Rs 25.00 each in the ratio of 1 for every 5 shares.

The proceeds will be utilized to expand the lending activities of the company and the capital adequacy requirements that have arisen as a result of business expansion.

Pada 6:39 AM Komentar

Ceylon Printers PLC rights issue

Ceylon Printers PLC rights issue

MarketNews Right Issue

Ceylon Printers Plc (CPRT) has announced a move to raise Rs. 30 million via a Rights Issue to invest in the expansion and upgrading of the company’s printing and packaging facilities.

The Proposed Rights Issue will be on the basis of 05:07 at Rs. 1,200 each. The current stated capital of Ceylon Printers is Rs. 350,000 consisting of 35,010 shares.

The total investment will amount to Rs. 60 million of which an equity component of Rs. 30 million is to be raised via this Rights Issue.

The company also said that the Board made a special resolution to purchase machinery worth Rs. 30 million via the funds raised by the aforementioned Rights Issue. The Rights Issue is subject to regulatory and shareholder approval.

Pada 7:16 AM Komentar