July 08, Colombo: Sri Lanka's Sampath Bank is planning to go to the Singapore Stock Exchange with a USD 100 million debenture issue subject to regulatory approval, the bank announced in a Stock Exchange filing on Friday.
The debentures are to raise Basel 111 compliant Tier 2 capital, the announcement said.
In the past few months Sampath floated two fully subscribed rights issues under the first of which shareholders were offered one new share for every six shares they held at Rs. 245 per share and the second under which, three new shares were offered for every 13 shares held at Rs. 250 per share.
Shareholders applying for additional shares in the first rights issue were allotted up to 9,000 shares and up to 2,000 shares in the second issue.
Sampath Bank last year completed a Rs. 6 billion debenture issue listed on the CSE which was fully subscribed.