Sri Lanka’s NDB says strategic investor studying bank, market conditions

ECONOMYNEXT – Sri Lanka’s NDB Bank said a strategic investor was doing a detailed study of the bank and market conditions with the aim of buying unsubscribed shares of its rights issue.

“A strategic investor is in the process of carrying out a detailed evaluation of NDB as well as the current market conditions with a view to investing in unsubscribed shares rising from the rights issue of NDB,” a stock exchange filing said.

NDB Bank’s rights issue aimed to raise over six billion rupees but only 60 percent was subscribed, prompting the bank to search for a strategic investor.

NDB Bank raised 3.8 billion rupees through the rights issue last month.
(COLOMBO, 29 November 2018)

Latest Comments

Your email address will not be published. Required fields are marked *