ECONOMYNEXT – Sri Lanka’s Tess Agro, a food processing company, said it IPEK SA, a recycling has expressed interest in investing 84 million rupees in a tin can making plant for export.
IPEK based in Lugano, Switzerland wants to enter the food industry, Tess Agro said in a stock exchange filing.
Tess Agro hopes to privately place 84 million shares at 50 cents to raise the funds.
Tess Agro now was 339.97 million voting shares and 50 million non-voting shares.
The share placement has to be approved by the regulator and shareholders. (Colombo/Sept15/2021)