While complying with the Central Bank’s Financial Sector Consolidation Programme 2014, Asia Asset Finance PLC is preparing to for a Rights Issue to increase its core capital to Rupees One Billion.

The company is to issue 279.7 million shares at Rs. 1.60 each in the proportion of one new ordinary share for every two ordinary shares held.

This Rights Issue is expected to increase the company’s core capital by Rs. 447.5 million which now remains at Rs. 945.1 million.

The funds raised would be utilized for the working capital of the company.