By Sara Pathirana
Commercial Bank of Ceylon (COMB) opened trading yesterday at the Colombo Stock Exchange (CSE) as part of a ‘Market Opening’ tradition where companies that are listed under the S&P SL20 index are invited to do so.
Commercial Bank is Sri Lanka’s third largest company to be listed, in terms of market capitalization in the Stock Market, hovering around US$ one billion.
On time to open trading by ringing the opening bell was Commercial Bank’s Managing Director and CEO Jegan Durairatnam.
CSE chairman Vajira Kulatilaka said that the CSE was in the process of working to further enhance and introduce new products in line with features such as risk management and short-selling, while also striving to provide better IT systems that would attribute user-friendly features at better levels.
"We are sure everyone involved in this sector would like to see a much more comfortable and convenient trading of debt instruments. A known fact is that interest rates go up in the market and nothing can be done other than to wait until the market settles. But, with new products such as short-selling, things can change. What we will do is bring that type of a complete range of products of this calibre in order to witness a complete Capital Market. Our expectation is your participation and backup on our road shows and help us take Sri Lanka into a different platform. Sri Lanka needs capital, up from the government and down to the SME who will need capital in order to grow, Kulatilaka said.
After seeing to the traditional opening, Durairatnam remarked, "Our bank had been listed with CSE from the year 1970 and since then we have grown with the Exchange. A platform such as this provides companies with a capacity to help enhance their visibility on the world stage. Our association with the Stock Exchange has been rewarding and positive."
www.island.lk
Commercial Bank of Ceylon (COMB) opened trading yesterday at the Colombo Stock Exchange (CSE) as part of a ‘Market Opening’ tradition where companies that are listed under the S&P SL20 index are invited to do so.
Commercial Bank is Sri Lanka’s third largest company to be listed, in terms of market capitalization in the Stock Market, hovering around US$ one billion.
On time to open trading by ringing the opening bell was Commercial Bank’s Managing Director and CEO Jegan Durairatnam.
CSE chairman Vajira Kulatilaka said that the CSE was in the process of working to further enhance and introduce new products in line with features such as risk management and short-selling, while also striving to provide better IT systems that would attribute user-friendly features at better levels.
"We are sure everyone involved in this sector would like to see a much more comfortable and convenient trading of debt instruments. A known fact is that interest rates go up in the market and nothing can be done other than to wait until the market settles. But, with new products such as short-selling, things can change. What we will do is bring that type of a complete range of products of this calibre in order to witness a complete Capital Market. Our expectation is your participation and backup on our road shows and help us take Sri Lanka into a different platform. Sri Lanka needs capital, up from the government and down to the SME who will need capital in order to grow, Kulatilaka said.
After seeing to the traditional opening, Durairatnam remarked, "Our bank had been listed with CSE from the year 1970 and since then we have grown with the Exchange. A platform such as this provides companies with a capacity to help enhance their visibility on the world stage. Our association with the Stock Exchange has been rewarding and positive."
www.island.lk
No comments:
Post a Comment