Guardian Investment will raise Rs. 130 million through a 1:5 rights issue to fund its portfolio expansion.
The Ceylon Gurdian Investments Trust Limiteds Director P C P Tissera told LBO that new investment options could include power and infrastructure projects, in addition to stocks.rn
rnThe company is also re-evaluating its investment policy in order to restructure and broad-base its investment portfolio by investing in companies with good potential.rn
rnThe restructuring will also fund the firms interests in infrastructure projects and investments in the privatisation of state institutions.rn
rnThe firm is awaiting regulator approval for the rights issue, company officials said.rn
rnThe groups portfolio carries a market value of over Rs. 2.07 billion, in the financial year ending March 2003 against Rs. 1.7 billion in 2002.rn
rnDespite the jump in the value of its portfolio, the investment firms revenues dropped 18.3 per cent to Rs. 175.6 million over Rs. 215 million the previous year.rn