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Sampath Bank successfully raises Rs.12.1 billion via Rights Issue

2019-Jul-01 by  News Admin  

Sampath Bank in a stock exchange filing on Friday (28) announced that the Board of Directors was successful in allotting all of the shares that remained unsubscribed at the close of the Rights issue of the Company.

Accordingly, the Bank has successfully raised Rs. 12.1 billion via its Rights Issue.

The Rights Issue involved 89 million shares on the basis of seven new shares for 23 existing shares at Rs. 136 each.

The number of shares allotted to shareholders and to be listed pursuant to the Rights Issue was 63,538,223 shares, suggesting that 25,468,640 shares remain unsubscribed.

However, In a filing to the Colombo Stock Exchange on Friday, Sampath Bank noted that the allotments amounting to 25,468,640 shares were made to investors sourced by the Board and by the fulfillment of all of the pending allocations to the shareholders to whom it had previously not been able to allot their full entitlement of rights as a result of the under subscription that remained at the close of the Right Issue.

Furthermore, the bank informed that with the above allotment made at the Board meeting held on June 27, 2019, the Bank has allotted the entire shares of the Rights totaling to 89,006,863 shares, which completes 100% subscription of the Banks Rights Issue 2019.

Sources : adaderana

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