HNB Finance proposes Rs. 2.5 b Right issues

Saturday, 11 April 2026 04:21 - - {{hitsCtrl.values.hits}}

HNB Finance PLC plans to raise nearly Rs. 2.5 billion (Rs. 2,499,529,714) through a Rights issue, offering two new shares for every nine existing shares held.

The company will issue two new ordinary voting shares for every nine existing ordinary voting shares at Rs. 5.50 each, and two new ordinary non-voting shares for every nine existing ordinary non-voting shares at Rs. 5 each.

A total of 381,667,019 new ordinary voting shares and 80,072,222 new ordinary non-voting shares will be issued, according to a stock exchange filing.

The proceeds are expected to be utilised to improve the company’s Capital Adequacy Ratio and support lending activities.

The proposed rights issue has received approval from the Central Bank and remains subject to approvals from the Colombo Stock Exchange and shareholders.