CDB concludes share issue of Rs. 75 mn

Ceylinco Development Bank Limited (CDB), development banking arm of Ceylinco Group, successfully concluded its public offer of 7.5 million unquoted ordinary shares of Rs. 10 each, raising Rs. 75million on February 29.

1,246 applications were received for the full subscription of the issue. this fresh infusion of capital will help CDB to achieve key multiple objectives of the issue: to expand the capital base in line with the business growth, meeting regulatory commitments and broad basing the shareholder structure as stated in the prospects of the share issue.

CDB's total asset base reflects a figure of over Rs. 5 billion, revenue stands at over Rs. 1 billion, whilst net profit of Rs. 49 million has been recorded. CDB operates with an outlet network of 26 covering major cities of the country.