09th March 2011, Seylan Development PLC announces to Colombo Stock Exchange that the Board of Directors resolved to issue rights of 73,982,430 Shares at that the Price of Rs.11.00.

The company further announced the Rights Issued funds are utilizing to retire high cost of borrowings and increase working capital.

The Rights issue is subjective to the Exchange Approvals and the shareholders approvals in the General Meetings.

Source: http://www.cse.lk/cmt/upload_cse_announcements/31299668728_.pdf

Related Posts via Categories

• National Development Bank (NDB) Debenture issue is Oversubscribed
• Sri Lanka’s first pharma zone to open with US$ 10 million investment
• Car registrations down by 40%, three wheelers by 50% in 2017
• Investment in logistic projects in Muturajawela
• Avoid Cash or Cheques payment, and try SLIPS (Sri Lanka Inter-bank Payment System) by Central Bank
• Sri Lanka Economic Summit 2016 by The Ceylon Chamber of Commerce
• Mihin Lanka Losses accumulated Rs. 17 Billion by Now
• Maximise your Dollar Investment with US$ 150 million Sri Lanka Development Bond
• New Terminal Building to construct for Bandaranaike International Airport
• University of Colombo MBA Alumi Budget 2016 – Discussion with Finance Minister Hon. Ravi Karunanayake