Sri Lanka’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)

 

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