ECONOMYNEXT – Sri Lanka’s Lankem Ceylon plans a one for three rights issue of 17.15 million ordinary shares at 70 rupees each to raise 1.2 billion, a stock exchange filing said.
The cash will be used to settle a related party duе and part settlement of bank loans.
The firm’s current stated capital is Rs1.28 billion made up of 55.4 million ordinary shares.
The rights issue is subject to Colombo Stock Exchange and shareholder approval.
A subdivision of shares will follow if the proposed rights issue is fully subscribed, the company said, with 68,627,676 ordinary shares split “on the basis of every One (1) Existing issued Ordinary Share being Subdivided into Two (2) issued Ordinary Shares, thereby increasing the number of shares of the Company to 137,255,352 shares.”
(Colombo/Jun19/2025)
