Renuka Holdings Rights Issue raises over Rs 1 bn dailynews.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailynews.lk Daily Mail and Mail on Sunday newspapers.
S. V. Rajiyah - Managing Director, Renuka Holdings
Dec 17, 2020 (LBO) – Renuka Holdings PLC’s rights issue concluded on the 16 of December raising 1.082 Bn, higher than the required 1.03 Bn for the complete subscription of the offer signaling strong investor confidence.
This Rights Issue was carried out via online channels facilitated by the Colombo Stock Exchange. The managers to the rights issue were Capital Alliance Partners Ltd, while the registrars were the Central Depository System.
The proceeds of the Rights Issue is to enable the strengthening of the group’s balance sheet and also to fund future investments. As of 31st March 2020, the group turnover was approximately Rs. 8 bn, and total equity stood at Rs. 9.7bn.