The Kingsbury’s Rs. 660 m rights issue fully subscribed

Wednesday, 11 September 2013 01:40 - - {{hitsCtrl.values.hits}}

The Kingsbury PLC has raised Rs. 660 million through a 3:8 rights issue, with shareholders subscribing to 66,000,000 shares offered at Rs. 10 each. The company stated that the funds generated from the issue which closed on 3 September would be used to strengthen its balance sheet and retire debt. The Kingsbury Hotel is a member of the Hayleys Group. The former Ceylon Continental reopened its doors in December last year, after undergoing a complete US 19 million refurbishment unveiling its new identity as The Kingsbury PLC, backed by country’s most diversified conglomerate, the Hayleys Group.

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