Ceylon Printers to raise Rs30mn through rights issue

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Aug 28, 2015 (LBO) – Sri Lanka’s stationery merchants and printing firm, Ceylon Printers, is to raise 30 million rupees by way of a rights issue, the company said in a stock exchange filing.
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Subject to the necessary approvals, the company is to issue 25 thousand shares at 1,200 rupees each in the ratio of 5 for every 7 shares.
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The proceeds will be utilized to invest in the expansion and the upgrading of the company’s printing and packaging facilities. Accordingly, the board has made a special resolution, subject to the necessary shareholder approval, to purchase machinery worth 30 million rupees through the funds raised by the rights issue.
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The stock closed at 1,800 rupees on Thursday.
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