Abans Finance to raise Rs. 277 m via rights issue

Abans Finance (AFSL) has announced a 1:5 rights issue involving 11 million shares at a price of Rs. 25 per share to raise Rs. 277.3 million.

The proceeds of the issue are to be utilised to expand the lending or investment activities of the company and to upgrade the company to a well capitalised status. 

The AFSL share price closed at Rs. 32, down by Rs. 3.90.