Softlogic Finance goes for Rs 500 m Rights Issue
Ravi LADDUWAHETTY
Softlogic Finance will go in for a Rs 500 million Rights Issue at the
end of this month.
The reason for the Rs 500 million will be to meet the Central Bank of
Sri Lanka's Capital Adequacy Ratios and this will be to raise Tier I
capital, Chairman Ashok Pathirage told Daily News Business yesterday.
"The reason for the Rights Issue has been due to the phenomenal growth
of our business and we will be holding an Extra ordinary General Meeting
of shareholders soon to get their approval and we will be having the
Rights Issue end July," he said.
Market sources said that with the Rights Issue and with the Asian
Alliance acquisition, Softlogic Finance would be billed to be among the
top five finance companies in Sri Lanka. |