Rs. 1.6 b The Finance share issue thru’

Friday, 28 January 2011 03:16 - - {{hitsCtrl.values.hits}}

The Rs. 1.6 billion share issue of The Finance Plc has been oversubscribed following which it was closed yesterday.

The Company issued 40 million ordinary voting shares at Rs. 40 each. It officially opened on 21 January whilst it was up for subscription from 11 January.

As of 26 January the amount raised was Rs. 1.02 billion with 25.7 million shares applied for via 1,831 applications by way of cheques and bank drafts and two in the form of bank guarantee. The oversubscription and closure of the issue was announced subsequently whilst final details are expected to made public today or next week.