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 / 1270 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


Today's Columnists

Premechandran urges general amnesty for Tamil detainees

27 November 2015

Eelam People’s Revolutionary Front Leader and TNA member Suresh Premechandran   “I don’t see any difference between the Janatha Vimukthi Peramuna (JVP) and Liberation Tigers of Tamil Eelam (LTTE) &nd...

Dissing budgets, dodging bullets, becoming a more grown-up polity

27 November 2015

Radical budgets call for reinvigorated critical engagement by Civil Society. Governments that dodge bullets and clampdown on media commentaries by their mandarins – culpable of conflicts of interest (or not); or worse, chicanery &nd...

Budget 2016 and the ‘light-touch’ education policy changes therein

25 November 2015

  While the Government provides the infrastructure, the potential to transform education is in the hands of the National Institute of Education which is responsible for curricula and teacher training and development. The spotlight rea...

The Top 15 from the market oriented Budget 2016, challenge is execution!

24 November 2015

Further to the Economic Policy statement made by the Prime Minister in early November, which was essentially an external market oriented export-led policy statement, in my view the Budget 2016 further gave details to the overall strategy of brand ...

Columnists More