Overseas Realty to raise Rs.7.2 b via Rights for Havelock City
Overseas Realty, the largest listed property company in Sri Lanka, is going for a Rs. 7.2 billion Rights Issue, one of the biggest in recent years, to finance expansion of the Havelock City project.
The Company announced that its Board of Directors resolved to issue two new shares for every five held (355.15 million shares) at Rs. 20 each in a bid to raise the funds required. The move is subject to regulatory and shareholder approval. Its existing share capita