Sri Lanka’s Sampath Bank finds buyers for undersubscribed rights

ECONOMYNEXT – Sri Lanka’s Sampath Bank said it had found buyers for the unsold 25.47 million shares of its 12.1 billion rupee rights issue.

The rights issue of 89 million shares of seven new shares for 23 existing shares at 136 rupees each was to strengthen Tier 1 capital to comply with Basel III requirements.

Sampath Bank did not identify the investors who bought its unsold rights in its stock exchange announcement.
(COLOMBO, 28 June, 2019)