Asian Alliance announces Rs. 812.5 m Rights Issue

Friday, 1 October 2010 01:20 -     - {{hitsCtrl.values.hits}}

ASIAN Alliance Insurance Plc has announced a Rights Issue of one for two at Rs. 65 each raising Rs. 812.5 million.

The current stated capital of Asian Alliance is Rs. 250 million and the Rights will issue 12.5 million new shares. Funds raised will be used to restructure the group financial assets.                                                                 

The move was resolved by Asian Alliance Board on Wednesday and is subject to shareholder and regulatory approval.