The Colombo Stock Exchange (CSE) has got approval from exchange control authorities to list foreign companies.
CSE Chairman Vajira Kulatilaka said the CSE will begin implementation of many capital market initiatives that had been planned.
He said 2016 is going to a challenging year for stock markets globally but the CSE would begin implementation of many capital market initiatives that had been planned.
"We just got the Exchange Control approval to start listing foreign companies here," he said in a speech at a market opening ceremony for Hatton National Bank on Tuesday.
"This will be an opportunity to banks, because that gives you confidence to lend to foreign companies because that will be listed in Sri Lanka," Kulatilaka said at the bell ringing ceremony of Hatton National Bank.
The Managing Director and Chief Executive Officer Hatton National Bank Jonathan Alles said that, "HNB's experience with CSE is a very good one. HNB first listed in 1971 and since then has grown to be one of the dominant stocks in the CSE, within the top 10 in terms of the market cap and exceeding Rs.10 billion in turnover in 2015". He further stated "in the HNB group, Lanka Ventures, HNB Assurance are listed and our recent acquisition, HNB Grameen will be listed shortly.
"In addition its joint venture companies, Acuity Stockbrokers, Acuity Securities and the corporate advisory team are well positioned to take advantage of the interesting developments planned for CSE in 2016," Alles said.
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