LB Finance to raise Rs 3 bn via debentures

LB Finance has received Colombo Stock Exchange approval to raise Rs 3 billion via a debenture issue, the company said in a stock exchange filing.

Accordingly, the company will issue 20,000,000 debentures, with an option to issue up to a further 10,000,000 debentures in the event of an over-subscription of the initial issue, at an issue price of Rs 100 per share.

Capital Alliance Partners Limited is the managers to the issue.

The subscription list of the issue will open on December 4. (IH)