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 / 1412 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

Budget has a welcome focus on the rural economy

29 June 2017

 The wellbeing of the people of this country is closely linked to the rural areas which have approximately 75% of the population. The rural economy encompasses all of our agriculture, and related activities, and fishing, and a raft of various...


Venerable rabble

28 June 2017

“If the field was not fertile, the crop would be poor, and the farmer must naturally be unhappy about it. If the Sangha was impure, the charity bestowed on them would bring poor results, and the donors must naturally be unhappy about it. Thi...


Is the Government becalmed?

28 June 2017

Almost two years into its term, it is difficult to explain away the current Government’s lack of achievements on the economic front. I count the term of the Government from August 2015, rather than January 2015, because the focus in the exte...


Saman Kelegama: Even the blood running through his veins is oriented to economics

27 June 2017

The bearded economist who saw shortcomings of Sri Lanka’s liberalisation move My association with Dr. Saman Kelegama, Executive Director of the Institute of Policy Studies or IPS, dates back to the early 1990s when I had the opportunity to...


Columnists More