Markets regulator Sebi on Tuesday provided methods such as an offer for-sale mechanism, rights issue and issuance of bonuses to unitholders of REITs and InvITs to achieve compliance with the 25 per cent minimum public holding requirement.
Chairman Brahmanage Premalal
Prime Finance PLC, a member of the Prime Group, has raised Rs. 526.68 million through its fully subscribed Rights Issue in December.
With the conclusion of the Rights Issue, the core capital of the company is now over Rs. 2.1 billion, well above the stipulated regulatory minimum. The Minimum Public Holding requirement has increased to 11.86%.
The Company has been assigned with an issuer rating of [SL] BBB- (triple B minus) with a stable outlook by ICRA Lanka Limited, subsidiary of ICRA Limited, a group Company of Moody’s Investors Service.
Prime Finance raises Rs 526 68 mn capital 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.
Prime Finance PLC, a member
of the Prime Group, announced that it raised capital of Rs. 526.68 million
following the successful conclusion of its fully subscribed Rights Issue in
December 2020.
Prime Finance PLC is a
Licensed Finance Company by the Monetary Board of Central Bank of Sri Lanka (CBSL)
which provides personal and business finance solutions. The Company offers
fixed deposits, savings deposits, leasing, vehicle loans, mortgage loans, and
real estate development and related services.
The Company is assigned
with an issuer rating of [SL] BBB- (Pronounced SL triple B minus) with a stable
outlook by ICRA Lanka Limited, subsidiary of ICRA Limited, a group Company of
Fully subscribed Rights Issue of Prime Finance bolsters its core capital
January, 20, 2021
Prime Finance PLC, a member of the Prime Group, announced that it raised capital of Rs. 526.68 million following the successful conclusion of its fully subscribed Rights Issue in December 2020.
Prime Finance PLC is a Licensed Finance Company by the Monetary Board of Central Bank of Sri Lanka (CBSL) which provides personal and business finance solutions. The Company offers fixed deposits, savings deposits, leasing, vehicle loans, mortgage loans, and real estate development and related services.
The Company is assigned with an issuer rating of [SL] BBB- (Pronounced SL triple B minus) with a stable outlook by ICRA Lanka Limited, subsidiary of ICRA Limited, a group Company of Moody’s Investors Service.