Softlogic Capital Rights Issue fully subscribed

Softlogic Capital has successfully raised Rs. 1,904 million of new equity from existing shareholders through the issue of 272 m new shares. The total number of outstanding shares after the share issue is 299.2 m.

The Rights Issue attracted a total subscription of Rs. 2,127, including the application for additional shares and recorded an excess of Rs. 223 m over the amount offered. 

A decision was taken at the Extraordinary General Meeting on 2 April 2012 to increase Softlogic Capital’s share capital by raising up to Rs. 1,904 m of new equity through a 10:1 Rights issue at Rs. 7 per share, creating 272 m additional shares.

The success achieved through the Rights Issue reflects the investor confidence in the company and positions it to achieve its strategic growth plans. Softlogic Capital is the holding company for the Softlogic Group’s finance sector operations and counts Softlogic Finance PLC, Asian Alliance Insurance PLC, Softlogic Credit Limited and Softlogic Corporate Services Pvt. Ltd. as its subsidiaries.

The major shareholders in Softlogic Capital are Softlogic Holdings Ltd., with 53.2%, Rosewood Pvt. Ltd. at 18.5% and other investors with a 28.3% stake.

Softlogic Capital is helmed by a team of proven business leaders. Ashok Pathirage, Chairman of Softlogic Holdings, is also the Chairman of Softlogic Capital, while Iftikar Ahamed serves as the Managing Director of Softlogic Capital. Mayura Fernando, Ranjan Perera, Lucil Wijewardena, Ajita Pasqual and Nimal Palihena are fellow Directors on the Board.

The company is steadily carving out a niche for itself in the financial services arena and has demonstrated strident growth in recent years. Spanning the entire spectrum of financial products and services including leasing, finance, insurance and equity broking, Softlogic Capital’s comprehensive financial services portfolio positions it as the total financial solutions business partner in the market today.