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Seylan Bank’s Rights Issue which closed last Thursday, 2 June 2011, was fully subscribed with both classes of shares (voting and non-voting) attracting applications over and above the number offered under the rights.
The objectives of the Rights Issue were initially to increase the bank’s Tier 1 Capital to have a strong capital base.
Added to this was the mobilisation of long term funds to support the proposed increase in the bank’s long-term lending portfolio, especially the housing and SME sectors and also to facilitate the bank’s branch expansion programme. Seylan Bank Chairman Eastman Narangoda said: “The resounding success of this latest initiative is once again an overwhelming endorsement of the faith the public of Sri Lanka had in Seylan Bank.
http://www.ft.lk/2011/06/11/seylan-bank%e2%80%99s-rs-4-69-b-rights-issue-fully-subscribed/
The objectives of the Rights Issue were initially to increase the bank’s Tier 1 Capital to have a strong capital base.
Added to this was the mobilisation of long term funds to support the proposed increase in the bank’s long-term lending portfolio, especially the housing and SME sectors and also to facilitate the bank’s branch expansion programme. Seylan Bank Chairman Eastman Narangoda said: “The resounding success of this latest initiative is once again an overwhelming endorsement of the faith the public of Sri Lanka had in Seylan Bank.
http://www.ft.lk/2011/06/11/seylan-bank%e2%80%99s-rs-4-69-b-rights-issue-fully-subscribed/
