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Mercantile Investments strengthens foundation for growth with oversubscribed Rs. 1.1 Bn Rights Issue
Mercantile Investments & Finance PLC (MI Finance) has successfully concluded its Rights Issue, raising Rs. 1.1 billion in new capital. The Issue was oversubscribed, demonstrating a resounding confidence in the company’s strategy, performance, and long-term growth prospects.
As applications outpaced the initial share offering, the strong shareholder participation provided a firm endorsement of MI Finance’s direction and strengthened the foundation on which the company will build its next phase of growth.
The new fund infusion reinforces MI Finance’s capital base, enhances financial flexibility, and supports the company’s regulatory capital position. It also expands MI Finance’s capacity to serve customers and drives growth and expansion plans within Sri Lanka’s financial services sector.
With steadfast focus on long‑term value creation, MI Finance is strongly positioned to seize new opportunities, continuing to deliver meaningful returns for customers, shareholders, and the economy.
Gerard Ondaatjie, Managing Director, MI Finance, expressed his appreciation for the continued trust and support placed in the organisation. He said
The strong response to our Rights Issue highlights confidence our shareholders place in MI Finance’s strategy and long-term vision. With a stronger financial foundation, we are well positioned to pursue new opportunities and deliver sustainable growth and lasting value for all stakeholders.
The successful completion of the Rights Issue showcases MI Finance’s financial strength, the trust it commands and the commitment to sustainable, long-term growth as a stable and progressive financial institution.
First Capital Advisory Services (Pvt) Ltd acted as Advisor and Manager to the Issue, while SSP Corporate Services (Pvt) Ltd served as Registrar to the Issue.
