Raises Rs 699.9 m:

LMF Rights Issue full

Lanka Milk Foods (CWE) announced that their Rights Issue to raise Rs 699.9 million which ended on September 2, was oversubscribed.

The success of the rights issue is a strong vote of confidence by the investing community in the company and the policies adopted. The Rights Issue attracted substantial interest from shareholders, institutional and retail segments, both domestic and foreign.

The Chairman and Board of Directors of the company extended their thanks to the shareholders for the trust and confidence placed in the company.

LMF which has always upheld the highest standards of corporate governance, and professionalism in management, will continue to take the company to new heights and continue to set the pace for the dairy industry in Sri Lanka, the company said in a statement.