Lankem Developments PLC announced Rights issues 103.5 Million Ordinary shares at the proposition of 15 new shares for every 1 share held. The rights issue at that price of Rs.25 each. A total right is almost worth of Rs.2, 587.5 Million.
The objective of rights issue is the acquisition of a 61.88% of Equity stake of Agarapatana Plantation PLC. And the remainder will used for further investments in plantations, leisure industry and the hydro power plants.