Watapota Rights Issue

The Board of Directors of Watapota Investments PLC has resolved to recommend a Right Issue of ordinary shares to shareholders of the company.

The Colombo Stock Exchange filing said it is proposed to issue 25.1 million ordinary shares at a proportion of 75 new ordinary shares for every two ordinary shares held at a price Rs 20 per share.

The primary reason for the Right Issue is to raise capital for the company to carry out its planned investment activities.