Nation Lanka Finance PLC, a specialized leasing company which earlier came under the failed Ceylinco Consolidated Group and now is an independent operation, said this week that it had received unanimous support from its shareholders for a rights issue.
The shareholders endorsed a board decision to raise Rs. 240 million to be used as working capital for the company in expanding business operations, mainly in their core activities of leasing and credit, the company said in a statement. “Being offered on a 1:1 basis to existing shareholders and priced at Rs. 12 investors are of the view that this offer has been well timed as it also coincides with the current all-round upward trend witnessed in the share market,” it said.