"The core objective of this issue is to finance a new lease and hire purchase portfolio as past of the company’s growth strategy.
"The company believes that this process provides effective medium term funding which in turn allows for very attractive medium term returns for investors," the company said yesterday (12) in a stock exchange filing.
Seylan Bank PLC was appointed to manage the trust, the company said.
According to latest available data, Multi Finance PLC reported a 2 percent decline in net profits to Rs. 25.1 million for the twelve months ending March 2012.
Net income from operations grew 22 percent to Rs. 123.5 million.
During the period, the company’s asset base increased 67 percent to Rs. 1.1 billion.
Public deposits grew 152 percent to Rs. 365.7 million.