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.

Source: http://www.cse.lk/cmt/upload_cse_announcements/6421299655677_.pdf

http://www.cse.lk/cmt/upload_cse_announcements/1531299656015_.pdf

http://synergyy.com/2011/03/lankem-developments-plc-acquires-agarapatana-plantations-ltd/

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