Monday, 26 January 2015 00:13
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Softlogic Finance Plc plans to raise Rs. 401 million via a 10 for 28 rights issue priced at Rs. 30 each.
The company at present has 37,453,951 shares in issue and the Rights proportion of ten new ordinary shares for every 28 held will see issuance of 13,376,411 new ordinary shares.
Central Bank approval has been obtained for the Rights Issue which will be now subject to CSE and shareholder approval.
Funds raised will be used to expand the lending activities of Softlogic Finance and fulfill the capital adequacy requirements which have arisen as a result of the recent expansion of the business.
