UDA debentures open on September 23

Harshini PERERA

The UDA debenture issue will be open to the public on September 23.

It will close after 14 days of the opening date.

Depending on the present demand, it is expected to close before 14 days, Bank of Ceylon, Investment Deputy General Manager P A Lionel told Daily News Business. The prospectus for the UDA debenture is available at the Colombo Stock Exchange (CSE) website.

The printed version will be available to the public from September 20.The self-financing UDA debenture issue will be utilised to construct low-income housing schemes for unauthorized dwellers in the Colombo metropolitan city limit.

Under this initiative, a revolving housing project of 65,000 units will be constructed. It will enable the Government to use 800 acres of valuable land for commercial purposes in the Colombo metropolitan area.

These lands are now occupied by unauthorized persons.