Strategic investors engaged in doing a detailed study of Sri Lanka’s NDB Bank and the market
The NDB Bank in Sri Lanka has reportedly said that a strategic investor was doing a detailed study of the bank and market conditions with the aim of buying unsubscribed shares of its rights issue.
“A strategic investor is in the process of carrying out a detailed evaluation of NDB as well as the current market conditions with a view to investing in unsubscribed shares rising from the rights issue of NDB,” a stock exchange filing by the Bank has reportedly stated.
According to reports, NDB Bank’s rights issue is aimed at raising over Rs. 6 billion but only 60 percent was subscribed, prompting the bank to search for a strategic investor.
NDB Bank has raised Rs. 3.8 billion through the rights issue last month.
OSL take:
The interest expressed by a strategic investor in Sri Lanka’s NDB Bank is indicative of the level of interests placed in the country’s banking sector. The country’s economic indicators have shown that the banking sector is on a growth path. Hence, foreign businesses engaged in financial services could explore the possibilities of investing or partnering with Sri Lankan private banks or financial institutions.
| Article Code : | VBS/AT/20181130/Z_3 |