Renuka Holdings rights issue raises over Rs 1 b

Business

^{Renuka Holdings PLC’s rights issue concluded on December 16 raising Rs. 1.082 billion, higher than the required Rs.1.03 billion for complete subscription of the offer signaling strong investor confidence.}

^{This rights issue was carried out via online channels facilitated by the Colombo Stock Exchange. The managers to the rights issue were Capital Alliance Partners Ltd, while the registrars were the Central Depository System. The proceeds of the rights issue will enable strengthening of the group’s balance sheet and also to fund future investments. As at March 31, 2020 the group turnover was approximately Rs. 8 billion and total equity stood at Rs. 9.7billion, the company said in a media release this week.}

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