Hatton National Bank yesterday (10) revised its rights issue saying in wanted to give existing shareholders a ‘greater benefit’. It is now offering to issue 71.5 million new shares comprising 57.4 ordinary voting shares at Rs. 219.5 each and 14 million non-voting ordinary shares at Rs. 119.5 each. The rights issue is being made at 1:5, the bank said in a stock exchange filing.
Hatton National Bank PLC last week said it was planning to raise approximately Rs. 17.5 billion through a rights issue and private placement in order to strengthen its capital base and balance sheet position to support overall business growth of the bank, it said in a stock exchange filing.
According to the earlier proposal, the rights issue was for new shares numbering a little more than 59.5 million, comprise 47.9 million voting shares at Rs. 219.5 each and 11.6 million non-voting shares at Rs. 119.5 each and would be issued at 1:6.
The private placement proposes to issue 13.5 million new ordinary voting shares at not less than Rs. 235 each and would be offered foreign and local institutional investors.
source - www.lisland.lk
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