Renuka Holdings MD S.V. Rajiyah
Renuka Holdings PLC’s rights issue concluded on Wednesday, raising 1.082 higher than the required Rs. 1.03 billion for complete subscription of the offer, signalling 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 will enable strengthening of the group’s balance sheet and also to fund future investments. As at 31 March 2020 group turnover was approximately Rs. 8 billion and total equity stood at Rs. 9.7 billion.
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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.
Renuka Holding PLC (RHL) has announced plans to raise Rs. 1.031 billion via a Rights Issue closing on December 16 to carry out debt settlements and to fund future investments into Group subsidiaries according to a circular issued to its shareholders.
According to the circular, the new Ordinary Voting Shares will be issued at a price of Rs. 14 amounting to Rs. 934,863,56. The new Ordinary Non-Voting Shares will be issued at a price of Rs. 10 amounting Rs. 96,426,220.
The total proceeds expected to be raised through the Rights Issue is Rs. 1,03 billion.
Renuka Holdings PLC ordinary share price closed on December 7 as at Rs. 15.10 and its net asset value per share as at September 30, 2020 was Rs. 62.87.