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Monday June 30, 2:23 PMSri Lanka Ceylinco Insurance Share Issue Draws More Interest$all $sl $ins $isuCOLOMBO, June 30 Asia Pulse - A non-voting share issue by Sri Lanka's Ceylinco Insurance is drawing more interest from investors with the number of applications rising steadily. Registrars to the issue, International Consultancy and Corporate Services, said in a statement they had received 699 applications for just over 1.3 million shares amounting to 232.3 million rupees (US$2.2 million) by the close of business Wednesday. Ceylinco Insurance wants to raise 1.4 billion rupees by selling non-voting shares to boost regulatory capital, expand its foreign presence and launch a new health insurance policy. The company is issuing 8.5 million new shares to existing and new shareholders. Ceylinco would also use funds raised from the share issue to float its new general insurance health scheme which allows policy holders get unlimited out-patient medical advice by paying 500 rupees a year at centres to be set up nation-wide. (LBO) |
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