Sri Lanka’s Softlogic Holdings plans Rs7bn equity sale

Jan 25, 2018 (LBO) - Softlogic Holdings PLC has come to an agreement with Samena Ceylon Holdings Ltd., a Mauritius based firm to raise 7 billion rupees from a placement of shares to raise private equity. The board of directors of Softlogic has decided to place 182.22 million shares with Samena Ceylon Holdings Ltd at 17 rupees a share, to raise 3.1 billion rupees. Samena Capital will hold 19 percent of the company.  A further issue of 230.81 million shares by way of rights issue in the proportion of 24:100 at 17 rupees per share will be made to raise 3.9 billion rupees. Softlogic Holdings PLC’s present stated capital stands at 5,089 million rupees with 779 million shares in issue. Subsequent to the private placement and rights issue, the stated capital would rise to 12,119 million rupees with 1,192.5 million shares.