CSE to create dollar denominated board | Daily News


 

CSE to create dollar denominated board

CSE CEO Rajeeva Bandaranaike, CSE Director Moksevi Prelis, LOLC Securities CEO Sriyan Gurusinghe, LOLC Group Managing Director and CEO Kapila Jayawardena, CSE Chairman Vajira Kulatilaka, LOLC Group Chief Operating and Legal Officer Kithsiri Gunawardena, LOLC Group Chief Financial Officer Sunjeevani Kotakadeniya and LOLC Group Chief Information Officer Conrad Dias at the bell ringing ceremony.

For the first time a special US$ dollar denominated board will be set up by the Colombo Stock Exchange (CSE) targeting foreign investors from the region, CSE Chairman Vajira Kulatilaka said.

Speaking after Lanka ORIX Leasing Company PLC (LOLC) rang the opening bell to commence trading at the CSE yesterday Kulatilaka said that this has been actively accepted by Maldivian and Bangladeshi investors.

“We are now awaiting the final approvals to launch this US$ dollar denominated board from the Securities and Exchange Commission.”

He said that as a follow up to this, they will be launching a major two day Road Show in the Maldives end on this month. “Bangladeshi companies too have requested for listing form out CSE.”

Commenting on the country rating downgrade by Fitch he said that it happens all over the world from time to time. “This is a good signal to wake up and bounce back for Sri Lanka”.

Market Opening Ceremonies are conducted by the CSE to serve as a platform to generate exposure for listed companies as they celebrate important milestones in the capital market. “The bell ringing ceremonies too are customary and important and even the London Mayor had requested to ring the CSE bell when he was in Sri Lanka.”

Kulatilaka commended LOLC’s continued commitment to SME and regional development through the company’s Micro Lending facilities and invited the company to showcase its credentials at foreign roadshows organized by the CSE in future. “We thank the LOLC Group for taking part in this market opening ceremony, which marks the first day of trading for the month of March. I’m proud to see how LOLC has excelled in many industries and cemented its position as a true conglomerate”.

“Lanka ORIX Leasing Company is hoping to make even bigger investments overseas to expand their foot print”, LOLC Group Managing Director and CEO Kapila Jayawardena said.

He said that their operations in Myanmar are very successful and the country was similar to Sri Lanka in the 1970 era. It’s a country with a lot of promise and rich with natural resources. “We are now looking for more regional expansion.”

“We will be committed to support the CSE by investing and expanding our presence in the market. LOLC has a strong presence in the CSE through our 12 listed companies and that will only continue to grow as we expand our reach both locally and internationally.” 


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