Softlogic Finance PLC, a subsidiary of Softlogic Capital PLC, announced its recently concluded Rs 850mn Rights Issue, which saw keen demand, was successfully oversubscribed and fully allotted. The funds raised from the Rights Issue will infuse fresh capital for adherence to capital adequacy requirements and support the company’s digitalization drive and business expansion plans. Accordingly, the Board of Directors has approved the allotment of 116,483,901 ordinary shares at Rs.7.31. While applications were received for 106,192,861 ordinary shares, an additional 10,192,621 shares were also applied for by shareholders and allotted, leading to the entire issue being oversubscribed. The new Ordinary Shares were listed on the Diri Savi Board of the Colombo Stock Exchange (CSE) on 8 December 2022.
Ivon Brohier, Acting Chief Executive Officer, Softlogic Finance PLC, commented on the allocation, “I am pleased that we successfully concluded a rights issue that was fully subscribed given the turbulent market environment. We intend to use the proceeds towards strengthening the total capital of our company and ensure that the company complies with the necessary capital adequacy requirements. The continued
trust and strong support from our shareholders are encouraging, and we are committed to the goal of confidently creating long-term and lasting value.”
Softlogic Holdings PLC is recognised as among Sri Lanka’s most dynamic and progressive conglomerates, with industry leadership in key business verticals, including ICT, Healthcare, Retail, Financial Services, Automobiles and Leisure.
Softlogic Finance PLC is a registered finance company under the Finance Business Act No. 42 of 2011, as well as a Specialised Leasing Company licensed by the Central Bank of Sri Lanka under the Finance Leasing Act No. 56 of 2000.
