Home / Front Page/ NDB shareholders approve Rs.6.2 b rights issue

NDB shareholders approve Rs.6.2 b rights issue


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 12 September 2018 00:00


The Shareholders of NDB has approved a capital raising of over Rs. 6.2 billion via a Rights Issue at an Extraordinary General Meeting (EGM) held at the NDB-EDB Tower, a company said in a statement yesterday.   

The funds to be raised are primarily to supplement growth and to improve the bank’s Tier I capital adequacy levels. NDB shareholders and the bank’s Board of Directors were present at the EGM. Accordingly, up to 59,154,354 new ordinary voting shares will be issued by NDB by way of a Rights Issue to the shareholders as at the end of trading on 11 September in the proportion of 1:3 ratio at an issue price of Rs. 105. 

The Rights Issue was unanimously passed by the shareholders by way of an ordinary resolution.

NDB recorded impressive results for the six months ended 30 June 2018, continuing the strong growth it recorded last year, the statement added. 

“This growth is an affirmation that, Transformation 2020, the mid-term strategy launched by the bank in 2017 is delivering the intended results amidst challenging business environment, through clear strategic focus, execution and the commitment of team NDB.”  


Share This Article


DISCLAIMER:

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 Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.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.

COMMENTS

Today's Columnists

All the presidents’ mien

Monday, 21 January 2019

I’m conflicted about the presidency we have. Do we need it like a fish needs a bicycle, or a baboon needs a parliament? Has the opportune time come for stakeholders as diverse as civil society led by a free media movement, conscientious objectors t


Banks should subsume technology before technology subsumes them

Monday, 21 January 2019

Returning to IBSL is like ‘coming home’ It is a privilege for me to return to the Institute of Bankers of Sri Lanka, popularly known as IBSL, after the lapse of some 10 years. I had a long association with IBSL from its very beginning – from ar


Ravi K’s discourse on W.A. Wijewardena’s involvement in Treasury bond issue

Monday, 21 January 2019

In his article published previously in the Daily FT, Ravi Karunanayake (the MOF during the period of the infamous CBSL bond scam) appears to have attemptedto pull wool over the eyes andto make a mountain out of a molehill. This exercise gives an impr


Making democracy a national heritage

Monday, 21 January 2019

We are in the year of elections. It is the season of political name calling. Everybody is busy conferring some name on some body. Neo liberal, liberal, dictator, fascist, neo fascist, NGO agent, imperialist lackey are some of these devices that come


Columnists More