“The security code is SFCL-N-0000, and deposits would be accepted by the Central Depository Systems (Pvt) Ltd with immediate effect”, the statement added.
The statement said, SFCL would be listed by the way of an introduction, where the market would determine the trading price of a share. The company will be classified under the Banks, Finance and Insurance sector.
Formed in Kandy in 1968, Senkadagala Finance boasts of a Rs. 5.87 billion asset base, as at 2010.
Senkadagala Finance’s public deposit portfolio has increased from Rs.1.39 billion in 2009 to Rs.2 billion in 2010. During the Financial Year 2010, it had mobilized Rs.696 million through public deposits, reaching an almost 51% increase, compared to the deposit inflow of Rs.461 million in 2009.
Company’s stated capital is valued at Rs.213.47 million, whilst the total equity stood at Rs.897 million, end of 2010. Senkadagala Finance is led by Chairman S.K. Wickremesinghe and Chief Executive Lakshman Balasuriya. Thee company’s major shareholders E.W. Balasuriya & Company owns a 59.9% stake (12.63 million shares), according to 2010 financials.
source - www.dailymirror.lk
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