Commercial Bank Advances After Rights Offer, Share Split Plan

Commercial Bank of Ceylon Plc. (COMB), Sri Lanka’s biggest private lender by assets, rose the most in almost two months in Colombo trading after saying it plans to raise 9.7 billion rupees ($88 million) through a rights offer, which would be followed by a share split.

Commercial Bank rose as much as 4.3 percent and was trading 2.3 percent higher at 265 rupees at 11:02 a.m. Colombo time.

To contact the reporter on this story: Anusha Ondaatjie in Colombo at anushao@bloomberg.net

To contact the editor responsible for this story: Hari Govind at hgovind@bloomberg.net

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