The Securities and Exchange Commission (SEC) in consultation with the Colombo Stock Exchange (CSE) will revise the Minimum Public Float requirements from January 2017.
This will provide listed public companies with a wider range of options to comply with the Rules without compromising the objective of the Rule,the SEC said yesterday.
A grace period of six months extending up to June 30, 2017 will be granted for Listed Companies to comply with any one of the revised thresholds as detailed in the tables below. The revised minimum requirements will replace the current listing criteria applicable at initial listing both on the Main Board and on the Diri Savi Board. The revised Rules recognise the contribution made to liquidity from both the free float market capitalisation of a company and its public holding.
The free float market capitalisation or the float adjusted market capitalisation is computed by multiplying the Public Holding percentage of a company by the market capitalisation of such company.
This will provide listed public companies with a wider range of options to comply with the Rules without compromising the objective of the Rule,the SEC said yesterday.
A grace period of six months extending up to June 30, 2017 will be granted for Listed Companies to comply with any one of the revised thresholds as detailed in the tables below. The revised minimum requirements will replace the current listing criteria applicable at initial listing both on the Main Board and on the Diri Savi Board. The revised Rules recognise the contribution made to liquidity from both the free float market capitalisation of a company and its public holding.
The free float market capitalisation or the float adjusted market capitalisation is computed by multiplying the Public Holding percentage of a company by the market capitalisation of such company.
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