Capital Reach exceeds targets

EQUITY:After an impressive over subscription in its equity capital, Capital Reach Holdings Ltd has called an extraordinary general meeting to empower its Directors to increase the allotment of shares.

The company was formed last year as a Financial Services provider and the promoters of the Company acquired the necessary equity capital through a private placement.

The capital raised through the private placement enabled Capital Reach Holdings Ltd to acquire 2 established business ventures dealing in leasing and credit activities.

The company originally had a ceiling of Rs. 260Mn for the allotment of shares as per its Articles.

Due to the current over subscription of shares Capital Reach Holdings Ltd has called an EGM to consider a resolution for the waiver of pre-emptive rights of current shareholders and enable the Directors to issue shares up to a renewed ceiling of Rs. 272 Mn. Capital Reach Holdings Ltd expects to be listed later this year.