Fintrade Capital: Housing Finance rights Issue

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Monday, January 29, 2007

Housing Finance rights Issue

The stock market has started again on the upward trend though there is still some mixed reactions in a couple of counters. Nonetheless investors are now bracing themselves for the upcoming release of financial information of most companies come February and March which might be followed by good tidings in form of dividends, share splits, bonus issue and many more.
Today it has been revealed that Housing Finance plans to offer a Rights Issue to finance its impending expansions. The Mortgage finance company, Housing Finance, intends to give a Rights Issue to raise funds for its planned expansion programme.
The company chairman, Mr Kungu Gatabaki, said the proposed expansion would strategically position HF in the wake of growing competition from other players in the financial sector.

http://www.eastandard.net/hm_news/news.php?articleid=1143964210