SDB bank to go for SPO

Originally published: 1 month ago 20

SDB bank’s decision to go for an Second Public Offering (SPO) — a capital raising exercise by a company that is already listed on the CSE and involves the sale of new shares to the public through a secondary offering is based on its decision to invite their customers, shareholders and other stakeholders and the public to take part in this journey.

This is a result of its extended growth phase and the culmination of its two-phase capital plan plus its commitment to create even more value for its shareholders.

With 68 million new ordinary voting shares to be issued to the public via the SPO at a share price of Rs. 51.50, and 20 million additional shares in case of an oversubscription, the fresh capital raising effort will enable in further reinforcing the bank’s equity base and consequently improve its capital adequacy ratios in adherence with the BASEL III guidelines of the Central Bank.

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