Mercantile Investments & Finance PLC (MI Finance) has successfully completed its Rights Issue, generating Rs. 1.1 billion in new capital. The oversubscription of the Issue reflects a strong confidence in the company’s strategic direction, operational performance, and future growth potential.
The overwhelming response from shareholders exceeded the amount of shares initially offered, signaling robust support for MI Finance’s trajectory and solidifying the groundwork for the company’s next growth phase.
This influx of capital strengthens MI Finance’s financial foundation, enhances its capacity for flexibility, and bolsters its regulatory capital requirements. Additionally, it allows MI Finance to better serve its clients and propels its growth and expansion initiatives within Sri Lanka’s financial services landscape.
With a commitment to long-term value creation, MI Finance is well-equipped to capitalize on emerging opportunities, ensuring it continues to deliver significant returns for its customers, investors, and the broader economy.
Gerard Ondaatjie, the Managing Director of MI Finance, expressed gratitude for the ongoing trust and support from stakeholders. He remarked, “The robust response to our Rights Issue underscores the confidence our shareholders have in MI Finance’s strategic approach and long-term vision. With a reinforced financial base, we are in an excellent position to explore new opportunities and provide sustainable growth and enduring value for all our stakeholders.”
The successful execution of the Rights Issue highlights MI Finance’s financial stability, the confidence it inspires, and its commitment to sustainable, long-term growth as a reliable and advancing financial institution.
First Capital Advisory Services (Pvt) Ltd served as the Advisor and Manager for the Issue, while SSP Corporate Services (Pvt) Ltd took on the role of Registrar.
