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

Market time
Black
White

Send This Page To Friends and Colleagues

You can Enter more than one email separated by (,)
Allowed 100 characters only
31 March, 2014 08:12 AM Source: Financial Times - Sri Lanka
Japan (3).jpg

Two Japanese investors are to take a 16% stake in Asia Capital Plc for Rs. 383 million via a private placement.
Asia Capital’s Board last week resolved to issue 21.329 million shares at Rs. 18 each. The shares amount to 16.3% stake post-private placement.
The two Japanese investors are Y. Watanabe (11.54 million shares) and E. Watanabe (9.79 million shares).
Asia Capital will use the funds raised via private placement to settle outstanding liabilities and for working capital purpose. The move is subject to shareholder and regulatory approval. At present S. Vijayeswarana holds 85% stake in Asia Capital.
ACAP’s net asset per share at company level was Rs. 6.77 as at 31 December 2013 down from Rs. 9.67 from end 31 March 2013. At Group level it was Rs. 2.67 down from Rs. 7.
The highest price in the quarter ended on 31 December 2013 was Rs. 21.80 whilst the lowest and closing price was Rs. 17. On Friday the share closed at Rs. 16.10.
Loss-making ACAP had Rs. 452 million in short-term interest bearing borrowings and Rs. 239 million in overdraft. Long-term loans amounted to Rs. 1.25 billion.
For the nine months ended 31 December 2013, net loss for equity holders of ACAP was Rs. 444.8 million, up from Rs. 386 million a year earlier.

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
and
Many more


Will automatically display the last quotes you have visited here.

All Rights Reserved - DUInvest © 2014

Login

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

Your Opinion Matters

What do you think about the new Website?