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. The occasion was graced by Amana Bank’s Chairman Asgi Akbarally, Managing Director/CEO Mohamed Azmeer, Senior Director Dilshan Hettiaratchi, CSE’s Chief Executive Officer Rajeeva Banadaranaike, Chief Regulatory Officer Renuke Wijayawardhane, Head of Listing Kanishka Munasinghe along with Senior Management representing both the Bank and CSE.
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.
Welcoming the gathering present on the ceremonial occasion CSE Chief Executive Officer Rajeeva Bandaranaike said “We are happy to have facilitated yet another capital raising opportunity for Amana Bank PLC. 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.”
Delivering the key note address 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.”
Also speaking at the ceremony Managing Director/CEO Mohamed Azmeer stated “As we ceremonially conclude the rights issue, I would like to thank the shareholders for their confidence and regulators for their guidance and support. 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.”
About CSE
The Colombo Stock Exchange (CSE) operates the only stock market in Sri Lanka and is responsible for providing a transparent and regulated environment where companies and investors can come together. The CSE is a company that is limited by guarantee established under the Laws of Sri Lanka. The CSE is licensed by the Securities and Exchange Commission of Sri Lanka (SEC) and is a mutual exchange consisting of 15 Members and 13 Trading Members. All Members and Trading Members are licensed by the SEC to operate as Stockbrokers. For more information, please visit: www.cse.lk.
About Amana Bank
Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah-based IsDB Group being the principal shareholder. The IsDB Group is a USD ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Fitch Ratings in October 2023, affirmed Amãna Bank’s National Long Term Rating of BB+(lka) while assigning a stable outlook.
Amãna Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement as the Founding Sponsor of OrphanCare, which is an independent trust addressing the needs of orphan children once they reach the age of 18 and are compelled to leave their care homes. Guided by Article 2 of the United Nations Convention on the Rights of the Child which ensures nondiscrimination, OrphanCare is administered by a team of trustees who have a track record of passionate social service.
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Podium Participants (L-R): Mr. Dilshan Hettiaratchi, Senior Director at Amana Bank PLC, Mr. Renuke Wijayawardhane, CRO at CSE, Mr. Mohamed Azmeed, Managing Director/CEO at Amana Bank PLC, Mr. Rajeeva Bandaranaike, CEO at CSE, Mr. Asgi Akbarally, Chairman at Aman Bank PLC, Dr. T. Snthilvel, Shareholder of Amana Bank PLC, Mr. Aslam Omar, Shareholder of Amana Bank PLC, Mr. Nandhanan Senthilverl, Shareholder of Amana Bank PLC and Ms. Kanishka Munasinghe, VP – Listing at CSE
