The rights issue, Hatton National Bank PLC (HNB) announced on June1, 2011 was undersubscribed, and HNB plans to list some of the unsubscribed shares in the Colombo Stock Exchange (CSE), the bank informed the CSE yesterday.
In June, HNB offered 28,740,020 ordinary voting shares and 7,013,916 ordinary non-voting shares at a price of Rs.219.50 per voting share and Rs.119.50 per non-voting share respectively, in the proportion of 1:10.
Pursuant to the shares offered above, 19,020,702 ordinary voting shares and 2,838,149 ordinary non-voting shares were issued and listed on 12th August 2011.
However, according to the filing released yesterday, the issue was undersubscribed resulting in 9,719,318 ordinary voting shares and 4,175,767 ordinary non-voting shares being unsubscribed.
“In terms of the resolution adopted by the shareholders of the Bank at the Extra Ordinary General Meeting held on 1st July 2011, out of the above remaining unsubscribed shares, the Bank has issued 4,800,000 ordinary voting shares and 4,175,700 ordinary non-voting shares on 7th September 2011, and the said shares were listed on 9th September 2011” the filing said.
source - www.dailymirror.lk
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