Fimbank is planning a $50 million rights issue, subject to the necessary regulatory approvals.

The group’s shareholders will be able to subscribe to ordinary shares in the company having a nominal value of $0.50. The numbers of rights to which each shareholder shall be entitled, the price at which such rights may be exercised and the terms and conditions of the rights issue will be determined and disclosed at a later stage through a prospectus.

The offer will be made to those shareholders as at May 21.

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