Following the strategic investment by CG Capital Partners Pte Ltd (CGC) in Union Bank of Colombo PLC (UBC), UB Finance PLC (UBF) a ninety percent owned subsidiary of UBC recently made two key appointments to its Board of Directors, engaging Mr. Malay Mukherjee as the Chairman and Mr. Sanjay Pokhrel as a Non-Independent Director.
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UB Finance Company Limited (UBF or Company), a subsidiary of Union Bank of Colombo PLC would be the latest addition to the Colombo Stock Exchange (CSE) as it plans to carry out an Initial Public Offering (IPO) of 55Mn ordinary voting shares at LKR 1/- per share. The IPO is scheduled to open on 20th July 2023 and is a prime opportunity to invest in a Licensed Finance Company (LFC) backed by a Licensed Commercial Bank.
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UB Finance Co. Ltd. a subsidiary of Union Bank of Colombo PLC commits to a rights issue amounting to LKR 1.6 Billion to strengthen its Balance Sheet and meet the capital guidelines of the Central Bank of Sri Lanka (CBSL) by 31st December 2020 as approved by the CBSL. The Company has recorded significant growth since its acquisition by Union Bank of Colombo PLC in 2011 and has established itself as a Premier Financial Services Provider in the Island.
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UB Finance Co. Ltd. a subsidiary of Union Bank of Colombo PLC successfully concluded a Rights Issue to raise approx. LKR 2 Billion to strengthen the Company’s Balance Sheet and meet the revised capital thresholds set out by the Central Bank of Sri Lanka.
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Paper articles on above investment were published in followings news papers on 28th of October 2016. You can access the articles though the following links. MORE >>