People’s Merchant PLC (PMB) is to raise Rs.450 million via rights issue to comply with the liquidity reserve requirement laid down by the Central Bank of Sri Lanka and to retire short term debts, subject to shareholder approval, the company informed the Colombo Stock Exchange in a filing.
Accordingly, the company plans to issue 30 million ordinary shares in the proportion of four ordinary shares for every five ordinary shares, each at Rs.15.
source - www.dailymirror.lk
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