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[February 2002]
Rights Issue for Royal Ceramics Lanka
Royal Ceramics Lanka Ltd, one of the largest ceramic tile manufacturers in Sri Lanka, has launched a rights issue in a bid to raise more than 246 million Sri Lankan Rupees. This is aimed at trying to almost double the company's current production capacity, from 1.2 million square metres to 2.3 million square metres. Funds raised will be for the commissioning of a plant bought recently from Interbatch Porcelain Ltd.
ENDS