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Sri Lanka: ComBank Receives $ 50m Equity from IFC
The Commercial Bank of Ceylon yesterday announced the completion of all formalities relating to the private placement of shares with the International Finance Corporation (IFC) and the receipt of $ 50 million (Rs 9.215 billion) from the latter for 115,197,186 ordinary voting shares in the bank.
This is the first foreign equity placement by Commercial Bank, the first post-pandemic equity placement by the IFC and is one of the largest foreign investments into Sri Lanka since the start of the COVID-19 pandemic, the bank said.
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