By Ravi Ladduwahetty
Ceylon Finance Today: The Securities and Exchange Commission (SEC) and the Colombo Stock Exchange ( CSE) are now ready to list Board of Investment approved companies on the floor of the Colombo Stock Exchange.
This is the way forward for the country and this would be a strong campaign for these companies to list, which would make it more attractive for Foreign Direct Invesments,
Dr. Jayaweera added.
www.ceylontoday.lk
Ceylon Finance Today: The Securities and Exchange Commission (SEC) and the Colombo Stock Exchange ( CSE) are now ready to list Board of Investment approved companies on the floor of the Colombo Stock Exchange.
"The Board of Investment wanted such mechanism to make Sri Lanka more attractive to foreign investors. The SEC and the CSE agreed and responded positively by drafting regulations, but the ball is now in the BOI Court to make use of it. Until the BOI is ready, the CSE will not launch the listings, Securities and Exchange Commission Chairman Dr. Nalaka Godahewa told Ceylon FT late Friday night.
He said that the SEC had insisted that the proper safeguards would be installed where the minimum investment had to be US $ 10 million, Another safeguard is that the principal promoter has to have a minimum of 50% of the shares and be within the company's holding for a minimum of two years.
Colombo Stock Exchange Director General/ CEO Rajeewa Bandaranaike also told Ceylon FT late Friday night that the CSE would be facilitating a Special Board which would be different from the Main Board and the investors who will qualify will only be the institutional investors. He also said that the SEC and the CSE were both ready to list investors, provided that there were at least five such companies who were willing to invest and list.
Meanwhile, Board of Investment Chairman Dr. Lakshman Jayaweera also told Ceylon FT that the request was first made by the BOI to the SEC and the CSE to enable listing facilities to investors and that the progress was already successful with seven investors already lined up for listing, adding that they had already signed up Memoranda of Understanding with the BOI.
He said that the SEC had insisted that the proper safeguards would be installed where the minimum investment had to be US $ 10 million, Another safeguard is that the principal promoter has to have a minimum of 50% of the shares and be within the company's holding for a minimum of two years.
Colombo Stock Exchange Director General/ CEO Rajeewa Bandaranaike also told Ceylon FT late Friday night that the CSE would be facilitating a Special Board which would be different from the Main Board and the investors who will qualify will only be the institutional investors. He also said that the SEC and the CSE were both ready to list investors, provided that there were at least five such companies who were willing to invest and list.
Meanwhile, Board of Investment Chairman Dr. Lakshman Jayaweera also told Ceylon FT that the request was first made by the BOI to the SEC and the CSE to enable listing facilities to investors and that the progress was already successful with seven investors already lined up for listing, adding that they had already signed up Memoranda of Understanding with the BOI.
This is the way forward for the country and this would be a strong campaign for these companies to list, which would make it more attractive for Foreign Direct Invesments,
Dr. Jayaweera added.
www.ceylontoday.lk
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