Amana Bank marks successful Rights Issue

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Having carried out a successful Rights Issue with the objective of meeting the enhanced regulatory minimum capital, Amana Bank recently listed its Rights Issue shares on the Colombo Stock Exchange (CSE) which was marked by the ceremonial bell ringing to commence market trading.

Being one of the largest Rights Issue in the recent past, Amana Bank raised LKR 6 billion with the participation of existing and new shareholders featuring strong foreign, corporate and HNW investors. CSE Chief Executive Officer Rajeeva Bandaranaike said “It’s heartening to see listed companies coming back to the market to raise further capital. Furthermore, this is an endorsement of the level of confidence that shareholders have in Amana Bank PLC to raise LKR 6 billion with the rights issue. This issue drew interest from both local investors and foreign investors. It is particularly important in today’s context, where we require foreign investors in listed companies.”

Amana Bank Chairman Asgi Akbarally said “I extend my heartfelt gratitude to each and every one of you who has been a part of this journey, especially our larger and new shareholders, IsDB Group, Senthilverl Holdings, Omar and Kassim families.Your trust and confidence inspire us to strive for excellence and innovation. Together, let us continue to build a stronger, more resilient Amana Bank that contributes to the growth and prosperity of our shareholders, customers, and the nation as a whole. The funds raised through this issue will be instrumental in fuelling our strategic initiatives, expanding our reach, and ensuring sustained value creation for our shareholders as we begin a new chapter in the success story of Amana Bank.”

Managing Director/CEO Mohamed Azmeer stated “With our valued investors placing their confidence on the Bank, the onus is now upon us to ensure this confidence is well reciprocated with enhanced shareholder value as we grow and expand to capitalize the opportunities and achieve our full potential.”

Provided by SyndiGate Media Inc. (Syndigate.info).