DFCC subscribes to Commercial Bank rights issue in full


June 14, 2017 (LBO) – Sri Lanka’s DFCC bank on Tuesday said it subscribed to the recent rights issue of Commercial Bank in full.

DFCC said in a stock exchange filing that the investment amounted to 1.4 billion rupees for both voting and non-voting shares.

Last month, the bank sold 1.18 percent of the issued voting shares of Commercial Bank with the view of subscribing to this rights issue.

Accordingly, 10 million shares were sold at 138 rupees per share, and the bank recognized a net capital gain of 915 million rupees.

Commercial Bank earlier said it is planning to raise 10 billion rupees through a rights issue of voting and non voting shares at 113.60 rupees each in the ratio of one share for every ten shares held.