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.