Sri Lanka Sanasa Development Bank raises one billion rupees in cash call

(EconomyNext) – A rights issue of Sri Lanka’s Sanasa Development Bank at 80 rupees a share was oversubscribed, raising over one billion rupees, the company said in a statement.

The company issued 12,587,661 new ordinary shares in the ratio of one for every two shares held by the holders of ordinary voting shares to raise 1,007 million rupees.

Subsequent to the rights issue, the total number of shares in issue of Sanasa would increase to 37,762,983 ordinary voting shares.

NDB Investment Bank acted as the managers to the rights issue.

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