Having acquired more than 50% in Capital Reach Holdings Limited (CRHL) recently, Softlogic Holdings PLC has announced a rights issue in this subsidiary, which will be subject to shareholder and regulator sanctions, Softlogic said.
Softlogic, which bought into CRHL last month from Asia Capital (ACap), acquiring nearly 40%, upped its stake to 52% recently. Rosewood Ltd., a fully owned subsidiary of the Hirdramani Group also bought into CRHL and now has 16% in CRHL.
The company announced a one (01) new ordinary share for every three (03) ordinary shares held, at a price of Rs.40.00 per share.
Softlogic sources said that this issue of new shares will help CRHL raise new capital for further expansions / avenues of business, etc. Softlogic, a company which started as an IT firm, is now into healthcare, furniture, telecommunications, consumer electronics, automobiles, office automation, etc and sees value in CRHL as it holds 51% in Capital Reach Leasing.“We can offer leasing facilities to our consumers through CRHL,” a Softlogic source said. |
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