Amana Takaful goes for Rs. 210 m Rights Issue

Amana Takaful Plc has announced a Rights Issue to raise Rs. 210 million.

The Rights Issue will be in the proportion of one for every five held at 70 cents each. The move will entail issuance of 300 million shares. Amana Takaful share has been trading between Rs. 1.40 and Rs. 1.20 this week. 

The move is to raise funds to meet the regulatory capital requirement in terms of Risk Based Capital rules issued by the Insurance Board of Sri Lanka and subject to CSE and shareholder approvals.