Comments /
{{hitsCtrl.values.hits}} Views / Thursday, 8 February 2018 00:05Swarnamahal Financial Services PLC (SFS) yesterday formally informed the Colombo Stock Exchange that it was in the process of negotiating with a prospective investor in consultation with the Central Bank.
The move is with the objective of infusing fresh capital, either as a Rights Issue or issuance of new shares.
“The potential investors has submitted a proposal to the Monetary Board seeking their approval,” SFS said, adding that it will disclosure when such proposals are materialised and approved by the Central Bank.
The Company also referred to recent press reports including in Daily FT which may be the cause for unusual activities on SFS shares though proposal for the investment has not yet materialised. The market saw 5.8 million of SFS shares (relegated to Watch List) trading before closing at Rs. 1.20 up by 40 cents. Last week the share price declined by 20 cents to close at 70 cents and it moved up to 80 cents day before.
There have been concerns expressed that the Central Bank was negotiating a deal with Singapore-based Straits Grid Pte. Ltd., with the credibility of its promoters under question.
1. All comments will be moderated by the Daily FT Web Editor.
2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.
3. We may remove hyperlinks within comments.
4. Kindly use a genuine email ID and provide your name.
5. Spamming the comments section under different user names may result in being blacklisted.
Saturday, 23 February 2019
There’s nothing like a well-crafted marketing slogan for a prospective Presidential candidate. Gotabaya Rajapaksa is emerging more clearly into the daylight as the Opposition’s candidate for executive president. Against a redone image in the back
Friday, 22 February 2019
Admit it. The headline hooked you. Hope you won’t be disappointed. There are no gory scenes featuring dismembered limbs here. However you might read about the long arm of the law being truncated. Perhaps a chilling scene where the mask of the murde
Friday, 22 February 2019
If Sri Lanka wants to get out of the present miserable situation, it needs to make a profound change, a paradigm shift in the way it views at everything including the religious, political and economic issues. Such a change could be made only by loo
Friday, 22 February 2019
Sri Lanka is today facing a domestic labour shortage in some key sectors and industries. While demographic, social attitudes, expansion of the economy and outward labour emigration are contributing to the shortfall. Generally a lack of interest in ce