Prominent state banks among new shareholders of TFC

Wednesday, 16 February 2011 00:01 - - {{hitsCtrl.values.hits}}

The public share issue conducted by The Finance Company Plc raised Rs. 1.6 billion fresh capital and closed on 27 January, successfully. As planned, the share issue was mostly subscribed by prominent institutional investors and high net worth individuals.

As a result of these investments the largest banks in the country, namely, the Bank of Ceylon, Seylan Bank and People’s Bank, have become key shareholders of The Finance Company Plc.

Apart from this successful share issue closure, The Finance Company has yet again proven to be a force to reckon with in the non-banking financial services market in Sri Lanka by obtaining over Rs. 400 million in new deposits in the month of January through its well-spread branch network across the country.

Encouraged by the confidence the public has placed in the organisation and the stability achieved through the share issue, the company is now geared in embarking on a journey towards achieving the leadership position in the non- financial services market in Sri Lanka while strengthening the real-estate, hire-purchasing and pawning businesses of the Company.

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