Siyapatha Finance to raise Tier 1 capital with a rights issue

May 10, 2018 (LBO) – Sri Lanka’s Siyapatha Finance is planning to raise 250 million rupees by way of a rights issue, the company said in a stock exchange filing.

The director board has resolved to increase the Tier 1 capital of the company through this rights issue.

Subjected to the regulatory and shareholder approvals, the company is to issue 6,250,000 new ordinary shares at 40 rupees each in the ratio of 40 new shares for every 367 existing shares.

The current stated capital of the company is 698.67 million rupees.