Sri Lanka’s Softlogic Holdings Plc is planning to raise 10 billion rupees in equity including through a rights issue to shareholders, a stock exchange filing said.
Directors of Softlogic have decided to issue 298,135,802 ordinary shares of the company to raise 2,981,358,020 rupees, and 178,881,481 warrants in the ratio of 3 warrants for every 5 rights shares, to raise 1,878,255,550 rupees.
The balance 5,140,386,429 rupees is to be raised in “in a manner to be decided by the Board of Directors of the Company upon completion of aforesaid”.
Softlogic’s trading has been suspended.
The current stated capital of the company is 12,119,234,553, and the public holding percentage of the company is 13.09 percent, according to the filing.
The group which has interests in retail, leisure, healthcare, and financial services is looking to sell down assets and cut debt, Chairman Ashok Pathirage told shareholders November last year.
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