trending Market Intelligence /marketintelligence/en/news-insights/trending/65DrhrocPrtRLsdAHkdXdg2 content esgSubNav
In This List

Sri Lanka's Amana Bank plans rights issue

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


Sri Lanka's Amana Bank plans rights issue

Amãna Bank Plc said IB Growth Fund (Labuan) LLP, a subsidiary of the Islamic Corporation for the Development of the Private Sector, will invest in a rights issue.

Subject to regulatory and shareholder approval, the Sri Lankan bank plans to issue 1,250,695,267 new shares at 3.80 Sri Lankan rupees per share for every one ordinary share held, it said May 29. The Islamic Corporation is a unit of the Islamic Development Bank, which owns a 9.62% stake in Amana Bank.

Full subscription to the issue would see Amana Bank's core capital exceed 10 billion rupees, which meets the regulatory capital requirement set for 2018.

As of May 29, US$1 was equivalent to 152.79 Sri Lankan rupees.