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Will go up to Rs 1 b if oversubscribed:
Abans FS goes for Rs 500 m Debenture issue
Abans Financial Services Ltd Listed on June 27
and a subsidiary of Abans Ltd, will shortly go in for a Rs 500 m
Listed Unsecured, Subordinated Debenture Issue with the prospect of
going up to Rs 1 billion, if oversubscribed. The proceeds of the Rs
500 million Debenture will fund the branch expansion and also the
launch of new products, while merging the synergies of the Abans
Group which has 300 showrooms and 400 dealers.
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Spice industry targets US $ 1 b
The cinnamon industry could contribute more in
terms of foreign exchange if measures are taken to overcome the
dearth in cinnamon processors, an industry expert said. The cinnamon
sector plays an important role in the spice industry and with plans
to reach US $ one billion mark by 2020, the sector could be the
major contributor.
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Loan portfolio grows to Rs 8.2 b:
LOLC PAT up
Lanka Orix Leasing Company PLC (LOLC) registered
Rs 7,023 million as profit after tax during the last financial year.
During the year under review, the company’s loan portfolio grew by
Rs 4.2 billion to Rs 8.2 billion. LOMC disbursed Rs 7.6 billion as
advances during the year, which was an increase of 100% over the
previous year.
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Market down
The bourse displayed a significant setback today
with heavy losses in both indices. Furthermore all the sectors in
the market recorded notable losses during trading. ASI closed
6,767.59, down 144.41 points (-2.1%) while MPI closed at 6,274.45,
down 112.52 points (-1.8%) Market turnover recorded at Rs 1.9
billion.
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