Sri Lanka’s Softlogic Finance PLC (CRL) has announced its intention to secure 1.002 billion rupees through a rights issue, proposing to offer 5 new ordinary voting shares for every 12 existing shares. This non-bank financial institution stated that it will issue a total of 401,072,162 new ordinary voting shares at a price of 2.50 rupees per share.
The primary objective of this rights issue is to enhance the company’s Tier 1 Capital and to broaden its lending capabilities, particularly within the vehicle financing sector, as indicated by Softlogic Finance.
Currently, the firm has 962,573,191 ordinary voting shares outstanding, with a total stated capital of 2.32 billion rupees. The rights issue is subject to the approval of both regulators and shareholders.
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