Nation Lanka Finance's Rights Issue oversubscribed

Nation Lanka Finance's Rights Issue of Rs. 502 million closed recently and was oversubscribed, with applications exceeding the initial share allocation of 502,326,522 ordinary shares. The Rights Issue was held on the basis of 2:1 at Re. 1 per share and was extended to existing shareholders.

The Rights Issue has provided the company with an infusion of capital, which will ensure its compliance with the Tier 1 adequacy ratio set by the Central Bank.

The funds generated from the issue will help to improve the company's overall liquidity while supporting its continued growth and expansion.

CEO, Nation Lanka Finance, Jayantha Perera said, "We are pleased with the outcome of the Rights Issue and would express our gratitude to valued shareholders for the trust that they have all placed in us and the company."

"The over-subscription of the Rights Issue is a strong indicator of the public's faith in our strategic and operational abilities and we look forward to building further on this milestone and solidifying Nation Lanka Finance's position as a leader in the local financial services industry," he said.

Nation Lanka Finance has renewed its focus on product development, compliance, good governance and shareholder value-maximisation as part of its long-term commitment to be a responsible corporate citizen and industry leader.

Nation Lanka Finance remains committed to serving the nation and its people. The company is licenced and regulated by the Central Bank and has a rich heritage extending over 28 years.

With a strong reputation built on long-standing relationships with local communities and customers, Nation Lanka Finance continuously encourages financial inclusivity and provides customers from all walks of life with a diversified range of practical financial products and services which are delivered via a network of 25 location points across Sri Lanka.