July 30, 2015 (LBO) – Sri Lanka’s tableware exporter Dankotuwa Porcelain is to raise 722 million rupees by way of a rights issue, the company said in a stock exchange filing.
Subject to the necessary approvals, the company is to issue 90.31 million ordinary shares at 8.00 rupees each in the ratio of 5 for every 4 shares.
The proceeds will be utilized for plant modernization and to settle short term loans which would improve the gearing ratio, the company said.
The stock closed at 14.50 rupees on Wednesday.
Subject to the necessary approvals, the company is to issue 90.31 million ordinary shares at 8.00 rupees each in the ratio of 5 for every 4 shares.
The proceeds will be utilized for plant modernization and to settle short term loans which would improve the gearing ratio, the company said.
The stock closed at 14.50 rupees on Wednesday.
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