Today 25th January 2011, Amana Takaful PLC announced to Colombo Stoke Exchange [cse], that the company decided to issue 500,000,360 shares as a rights of 1 share for every 1 exiting held.
The rights come at Rs. 1.50 per shares and right total fund arise of Rs. 750,000,540.
The objective of the rights issue is to meet the increase capital requirement by regulator under its proposed capital plan and for the company’s future expansion strategies.