Arpico Finance rights issue oversubscribed

Financial Times

Arpico Finance rights issue oversubscribed

Arpico Finance said this week that it successfully concluded two rights issues for the year 2008/09, both being oversubscribed and raising over Rs. 80 million, increasing the company’s liquidity and capital funds. “It is a highly commendable achievement in the current context of the depressed equities market,” the company said in a statement.

Arpico Finance, operating under the Alliance Group, is a 55-year old company and the second oldest finance company in Sri Lanka and is listed on the Colombo Stock Exchange.

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