Sri Lanka’s Tess Agro in Rs117mn cash call

Sept 18, 2013 (LBO) - Sri Lanka's Tess Agro, a fish exporter has made a 117 million rupee cash call to finance a European marketing arm and a domestic project.
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. The Tess Agro said it wants to sell 60 million ordinary shares at 1.
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50 rupees to shareholders at the rate of one for every three existing ones.

Another 30 million non-voting shares will be sold at the rate of one for every six existing shares for 90 cents a share.

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The firm said the money will be used to fund a marketing arm in Belgium and a project to build facilities in Sri Lanka's Muthurajawela area.



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