Eden Hotel Lanka to raise Rs1.05bn through rights issue

eden-hotel

Sep 03, 2015 (LBO) – Eden Hotel Lanka, a leisure sector player is to raise 1.05 billion 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 52.8 million ordinary shares at 20 rupees each in the ratio of one for every one share.

The company who has interest in hotels and travels business said the proceeds will be utilized to repay part of the outstanding debts.