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Sri Lanka's diversified conglomerate Hemas Holdings is to raise additional funds for expanding its core businesses through a right issue.
The company in a stock market disclosure announced that the Board of Directors have resolved to raise additional funds by the issue of 57,254,513 ordinary shares by way of a Rights issue at the proportion of one ordinary share for every nine ordinary shares held by existing shareholders at a consideration of Rs 72 per share.
The current Stated Capital of the Company is Rs 1,600,602,534 consisting of 515,290,620 ordinary shares.
It is intended that the proceeds of the issue be used to pursue strategic investment opportunities in the core sectors of the group.
The Rights Issue is subject to the Exchange approving in principle the issue and listing of shares and obtaining shareholder approval at a General Meeting.
The company in a stock market disclosure announced that the Board of Directors have resolved to raise additional funds by the issue of 57,254,513 ordinary shares by way of a Rights issue at the proportion of one ordinary share for every nine ordinary shares held by existing shareholders at a consideration of Rs 72 per share.
The current Stated Capital of the Company is Rs 1,600,602,534 consisting of 515,290,620 ordinary shares.
It is intended that the proceeds of the issue be used to pursue strategic investment opportunities in the core sectors of the group.
The Rights Issue is subject to the Exchange approving in principle the issue and listing of shares and obtaining shareholder approval at a General Meeting.
