Ravi LADDUWAHETTY
Shareholders yesterday approved the Rs 228.5 million Singalanka Standard Chemicals PLC rights issue at the Extra Ordinary General Meeting.
The rights issue was for 4,155,621 shares where three new shares were offered or every share held at Rs 55 each.
"The proceeds of the rights issue will be used to invest in selected listed and unlisted equities," Singalanka Chairman Varuna Arambage told Daily News Business yesterday.
The proceeds of the rights issue will also be used to invest in manufacturing companies dealing with chemicals and also to develop the industrial sector as well. Also on the cards is the retirement of the debt of the company and 2% of the funds will be used for that as well, he added.
source - www.dailynews.lk
No comments:
Post a Comment