Ceylon Printers to raise Rs. 30 m via Rights Issue

Saturday, 29 August 2015 00:00 - - {{hitsCtrl.values.hits}}

Ceylon Printers Plc (CPRT) has announced a move to raise Rs. 30 million via a Rights Issue to invest in the expansion and upgrading of the company’s printing and packaging facilities.

The Proposed Rights Issue will be on the basis of 05:07 at Rs. 1,200 each. The current stated capital of Ceylon Printers is Rs. 350,000 consisting of 35,010 shares.

The total investment will amount to Rs. 60 million of which an equity component of Rs. 30 million is to be raised via this Rights Issue.

The company also said that the Board made a special resolution to purchase machinery worth Rs. 30 million via the funds raised by the aforementioned Rights Issue.

The Rights Issue is subject to regulatory and shareholder approval.