Members of the business community within the Central and Wayamba Province showed an avid interest in the possibility of raising capital through listing on the Capital Market, at a forum held recently to inform entrepreneurs on the benefits of going public.
"By listing your company you enhance the visibility of your business entity, are able to ensure good corporate governance and be transparent in your dealings. Further by separating ownership from management you are able to attract the best talent in the market and retain them," CEO (CSE) Rajeeva Bandaranaike said.
The issuer relations forum, held on the April 05 at the Earl’s Regency in Kandy, was jointly organized by the Securities and Exchange Commission of Sri Lanka (SEC) in association with the Colombo Stock Exchange (CSE) and saw the participation of over 50 businessmen from the region. This was the 2nd Issuer forum organized by the SEC and CSE in regions outside Colombo. The 1st was held in Jaffna recently.
The programme began with a clear elucidation on the benefits of listing both equity and debt through presentations made by the CEO of the CSE Rajeeva Bandaranaike and a presentation on "Debt Finance via Debentures as an alternative to Bank Finance" presented by Chairman of Wealth Lanka Management (Pvt) Ltd Mr. Mangala Boyagoda.
A lively panel discussion which followed these presentations illuminated those present on the vital areas of the listing process while falsifying a number of myths and fears that participants had about the listing process. The panel comprised of the Legal Officer at the Department of Registrar of Companies Heshan Mathugamage, CEO (CSE) Rajeeva Bandaranaike, Director Corporate Affairs (SEC) Harshana Suriyapperuma, Head of Listings & Corporate Affairs (CSE) Mrs. Priyana Gunesekera, Director Finance (Central Finance Plc) G.S.N. Peries and Chairman (Wealth Lanka Management (Pvt) Ltd) Mangala Boyagoda.
During the discussion a number of key questions were posed by the audience to facilitate a lively and informative dialogue.
"There are a number of myths about the drawbacks of listing; chief among them is the idea that being a listed entity will result in the loss of control. However this is certainly not the case because as a listed company on the Diri Savi Board you need to list only 10 per-cent of your total shares and on the Main Board the percentage is only 25 per-cent. It is also vital to remember that there is no loss of confidentiality or competitive advantage by listing," Officer-in-Charge of the SEC Dhammika Perera said in his opening remarks. "For those who fear losing ownership of their business corporate debt is a prudent option.
You are able to tap into an alternate source of funding without the dilution of ownership," Chairman of Wealth Lanka Management (Pvt) Ltd Mangala Boyagoda added.
The programme began with a clear elucidation on the benefits of listing both equity and debt through presentations made by the CEO of the CSE Rajeeva Bandaranaike and a presentation on "Debt Finance via Debentures as an alternative to Bank Finance" presented by Chairman of Wealth Lanka Management (Pvt) Ltd Mr. Mangala Boyagoda.
A lively panel discussion which followed these presentations illuminated those present on the vital areas of the listing process while falsifying a number of myths and fears that participants had about the listing process. The panel comprised of the Legal Officer at the Department of Registrar of Companies Heshan Mathugamage, CEO (CSE) Rajeeva Bandaranaike, Director Corporate Affairs (SEC) Harshana Suriyapperuma, Head of Listings & Corporate Affairs (CSE) Mrs. Priyana Gunesekera, Director Finance (Central Finance Plc) G.S.N. Peries and Chairman (Wealth Lanka Management (Pvt) Ltd) Mangala Boyagoda.
During the discussion a number of key questions were posed by the audience to facilitate a lively and informative dialogue.
"There are a number of myths about the drawbacks of listing; chief among them is the idea that being a listed entity will result in the loss of control. However this is certainly not the case because as a listed company on the Diri Savi Board you need to list only 10 per-cent of your total shares and on the Main Board the percentage is only 25 per-cent. It is also vital to remember that there is no loss of confidentiality or competitive advantage by listing," Officer-in-Charge of the SEC Dhammika Perera said in his opening remarks. "For those who fear losing ownership of their business corporate debt is a prudent option.
You are able to tap into an alternate source of funding without the dilution of ownership," Chairman of Wealth Lanka Management (Pvt) Ltd Mangala Boyagoda added.
"By listing your company you enhance the visibility of your business entity, are able to ensure good corporate governance and be transparent in your dealings. Further by separating ownership from management you are able to attract the best talent in the market and retain them," CEO (CSE) Rajeeva Bandaranaike said.
-SEC/ CSE release
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