Sri Lanka’s RIL Property goes for Rs.1.6Bn Rights Issue

Feb 14, 2018 (LBO) – RIL Property Plc said they will be raising 1.6 billion rupees through one for three Rights Issues to settle part of the long-term loan facilities obtained by the company.

Issuing a statement the company said that the it will issue 200 million shares in the proportion of one new ordinary voting share for every three ordinary shares held at 8 rupees per share.

The current stated capital of the company is 5.76 billion rupees.

The Rights Issue is subject to the Colombo Stock Exchange approving in principle the issue and listing of shares and obtaining shareholder approval at a General Meeting.