LKCSE Colombo Stock Exchange Open
  • Current Exchange
    Colombo Stock Exchange LKCSE

Market time

Send This Page To Friends and Colleagues

You can Enter more than one email separated by (,)
Allowed 100 characters only
31 January, 2014 07:27 AM Source: Financial Times - Sri Lanka

Commercial Credit and Finance (COCR) yesterday announced that the Board of Directors has approved the investment of Rs. 1.68 billion in the company by way of a private placement of shares at Rs. 21 per ordinary voting share.
US Delaware incorporated Creation Investments Sri Lanka LLC will be the company to which shares are to be allotted. The move has been approved by the Central Bank and the Securities and Exchange Commission but subject to shareholder consent.
The purpose of the issue is to meet the future capital adequacy requirements and for its future investment activities.
The maximum number of shares to be issued is 80 million voting shares (25% stake eventually) via two tranches. The first will be 48 million shares for a consideration of Rs. 1.008 billion and the second tranche will amount to 32 million shares for a value of Rs. 672 million, before March 2015.
Major shareholder of Commercial Credit and Finance is BG Investments Ltd with a 78% stake whilst Mrs. Vagdevi Fernando holds 7%.  Company has 238 million shares in issue at present. Share price closed at Rs. 16.10  whilst Net Asset Per Share is around Rs. 8.

Read Original Article

Add Comment | 0   comment

Readers Comment

Nothing found to display
page number 1

Add Comment

Please login first to comment Click here to login

Stocks in Focus

Features for Registered Users

E-mail Alerts
Daily Newsletter
Your Watchlist
Advanced Tools
Many more

Will automatically display the last quotes you have visited here.

All Rights Reserved - DUInvest © 2014


Do You have an Account ? , Click here to create a new account

Your Opinion Matters

What do you think about the new Website?