Home / / Amana Takaful to raise Rs. 750 m via 1 for 1 Rights

Amana Takaful to raise Rs. 750 m via 1 for 1 Rights


Comments / 1331 Views / Wednesday, 26 January 2011 00:52


Amana Takaful Plc has decided to raise Rs. 750 million via a Rights Issue to boost its capital and fund expansion.

The company’s Board on Monday resolved to recommend to shareholders a rights issue on the basis of one new share for one held at Rs. 1.50 each. This will involve issuance of approximately 500 million shares. Its current stated capital is Rs. 500 million.

Proceeds via rights will be used to meet the increased capital requirements by the regulator under Amana Takaful’s proposed capital plan and for the company’s future expansion strategies.

The Rights is subject to shareholder and regulatory approval. The price of rights is at a discount to the market.  Amana yesterday saw 11.45 million of its shares traded between a high of Rs. 4.20 and a low of Rs. 3.90 before closing unchanged at Rs. 4.


Share This Article


COMMENTS

Today's Columnists

Going back to the basics: SMEs need a single line ministry

30 August 2016

Let’s accept it - we are facing challenging times politically and economically. While some can blame the past, the fact of the matter is that the private sector is crying out for policy consistency and the support of the public sector throug...


Towards a mosquito-free monsoon

30 August 2016

Mosquitos spread life-threatening diseases; control them now Mosquitos are a pest with no equal. Though not all mosquitos transmit life-threatening diseases, those that do kill approximately 725,000 people worldwide every year. When n...


Economics of A.S Jayawardena Part III: AS’s short spell as Central Bank’s Economic Research Director

29 August 2016

The summary of the episodes so far The first part of this series looked at how AS, a radical socialist economist in his young days, was converted to a free market economic thinker. The second part dealt with how he took forward the mission of th...


Tourism can be Sri Lanka’s oil well if we drill with the correct marketing tools

29 August 2016

  Branding is a promise that will persuade tourists to come to Sri Lanka. It must be based on meeting the needs of the tourists from our target markets.The real challenge is to really understand these needs Success depends on ...


Columnists More