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SANASA Development Bank has resolved to raise capital through the issuance of new Ordinary Voting Shares to the public via a Secondary Public Offering (SPO), the bank said in a stock exchange filing.
The SPO under consideration constitutes of an invitation to the public, by way of a Prospectus, to subscribe up to Sixty Eight Million (68,000,000) new Ordinary Voting Shares of the Bank (Initial Issue) and in the event of an oversubscription of the Initial issue to issue up to a further Twenty Million (20,000,000) new Ordinary Voting Shares of the Bank at the discretion of the Board of Directors of SDB (Further Issue) resulting in a total issuance of up to Eighty Eight Million (88,000,000) new Ordinary Voting Shares of the Bank (Total Issue).
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.