Aug 28, 2015 (LBO) – Sri Lanka’s stationery merchants and printing firm, Ceylon Printers, is to raise 30 million rupees by way of a rights issue, the company said in a stock exchange filing.
Subject to the necessary approvals, the company is to issue 25 thousand shares at 1,200 rupees each in the ratio of 5 for every 7 shares.
The proceeds will be utilized to invest in the expansion and the upgrading of the company’s printing and packaging facilities.
Accordingly, the board has made a special resolution, subject to the necessary shareholder approval, to purchase machinery worth 30 million rupees through the funds raised by the rights issue.
The stock closed at 1,800 rupees on Thursday.