Touchwood submits to court, a ‘repayment plan’

- news360.lk

Sri Lanka’s Taprobane Holdings PLC is planning to raise Rs. 767 million via a ‘Rights Issue’ to help settle its borrowings, the firm announced in a stock market disclosure.

Accordingly, the firm will issue 255,950,493 shares, each priced at Rs. 3.

The proportion of the issue would be 1 ordinary share for every three held by a shareholder.

The company says, the funds once raised would be utilized to part settlement of its borrowings.

The current stated capital of the Taprobane is Rs. 349 million.

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