Sri Lanka’s Renuka Holdings is to Enter Property Development!

Sri Lanka’s Renuka Holdings Plc is to raise one billion rupees though a right issue to finance an investment for a property development project in Colombo Sri Lanka.

The company said this in a stock exchange announcement.
The company decided to issue 44.517 million ordinary voting shares at 21 rupees each and 6.43 million nonvoting shares at 15 rupees each.

The Company’s current stated capital is 175 million rupees represented by 44.5 million voting shares and 6.4 nonvoting shares, the company said in the announcement.

The Group has interests in agri business, dairy, consumer and automotive apart from investment and services sector.
The Group’s total revenue stood at 1.9 billion rupees for the first quarter of FY15, up by 22 percent from an year earlier and total comprehensive income amounted to 88 million rupees, up by 24 percent.