Business Times

Nation Lanka offer rights issue

Nation Lanka Finance PLC said last week it planned to hold an Extraordinary General Meeting (EGM) for shareholders to discuss the proposed rights issue. The former Ceylinco company wants to issue a 1-to-1 rights issue at Rs. 12 each to raise Rs. 240 million in working capital.

Nation Lanka Chairman N.B.S.B Balalle, said, “We feel the rights issue is at the appropriate time for Nation Lanka Finance, in its path to consolidation. We are confident of its success and encourage our shareholders to increase their holding in the company.”

The company said it is working towards obtaining a license to operate as a finance company.
Nation Lanka plans to stretch its services to the northern and eastern regions of the country to offer its services to communities belonging to these post- conflict areas. This will further build on the company’s 12 branches island wide network which includes branches in key towns such as Kandy, Anuradhapura, Matara, Ratnapura, etc.

Top to the page  |  E-mail  |  views[1]
Other Business Times Articles
Sri Lanka may feel effects of Dubai crisis
Depositors of failed Ceylinco firms seek MR Solution
No kickbacks but kicks – CB Gov’nor
Seismic surveys in Mannar Basin begin next week
Lankan economic model needs drastic change
Sri Lanka’s e-community takes another step forward
Comment - Poll spending or economic stimulus package?
Du-bai or Du-sell?
BPA organises first post-war investor forum in Jaffna
Nisol directors deny all charges of fraud
Virtusa takes IT to the Veddahs
Mahindra appoints Ideal Motors (Pvt) Ltd. as sole distributor in Sri Lanka
Moving towards global accounting standards
Rs. 30 million pledged for North and East IT skills development
Degree in Transport Economics and Commercial Shipping from Colombo University
Parliament advised to invest in research facilities
it. info - All about information technology
Chinese prisoners used in Lankan development projects
Bharti Airtel rated 'Strongest Brand' by Brand Finance
Hambantota chamber at UK awards
ICASL Celebrates Golden Jubilee
Oman Air buys 5 Embraer 175 E–Jets
Susantha resigns from NTB board
Broadband backbone network to be awarded in 1Q2010
MIT Cargo promotes eco friendly practices to Group companies
Institute of Leadership and Management launched
MTI Forum to focus on HR’s competitive advantage
Sri Lanka tops regulatory risk scores for Asia Pacific Telecoms
Nation Lanka offer rights issue
Aeturnum Lanka celebrates 3 years
Commercial Bank treasury team organizes seminar for Corporate Customers
CB awaits SC sanction to set up F&G trust
ORCL to expand in and around Colombo
Accountability for an efficient democracy
Demystifying biotechnology
'Tea Factory' becomes Heritance hotel
Reshaping businesses - long-term sustainability the need of the hour


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2009 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution