Sri Lankaâ€™s PABC to raise Rs2.1bn through rights issue
ECONOMYNEXT – Sri Lanka’s Pan Asia Banking Corporation (PABC) said it plans to raise Rs2,065 million from a rights issue of one new share for every existing two shares.
A stock exchange filing said PABC will issue 147.5 million new shares at Rs14 a share.
The proceeds of the rights issue will be used to fund the bank’s growth plans, it said.
(COLOMBO, Dec 01, 2016)