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The Invisible
The Invisible
Posts : 2759
Join date : 2016-11-28
Age : 41

Sri Lanka’s Softlogic Capital to buy Abans Finance, merge with Softlogic Finance Empty Sri Lanka’s Softlogic Capital to buy Abans Finance, merge with Softlogic Finance

on Wed Sep 30, 2020 12:07 pm
ECONOMYNEXT – Sri Lanka’s Softlogic Capital Plc said it will buy a 49.67 percent stake in Abans Finance from its parent at 30.10 rupees a share and make an offer to buyout other shareholders.

Softlogic Capital also owns a 72.9 percent stake in Softlogic Finance, another non-bank finance company.

After the offer, Softlogic Capital intends to merge the two finance companies, under a central bank initiated consolidation plan, Chairman Ashok Pathirage said in a stock exchange filing.

Any remaining shareholders of Abans Finance would get 11 shares of Softlogic Finance Plc shares for every 6 shares of Abans.

The ratio was based on the net asset values of the two firms as at June 30, 2020. (Colombo/Sept29/2020)
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