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With a proposed issuance of 88 million new ordinary voting shares through a  secondary public offering Sanasa Development Bank hopes to raise a grand total  of LKR 4.5 billion.  

The bank according to the information disclosed on the 5th of April hopes to issue the new shares via two tranches with the first tranche to include 68 million  ordinary voting shares and the second to include the remaining 20 million in  case of an oversubscription.  

With the Board of Directors Agreeing to the price of LKR 51.50 per share the  bank hopes to raise an initial 3.5 billion followed by an additional 1.03 billion if  an oversubscription is to take place brining the grand total to 4.5 billion.