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| Friday, 2 August 2002 |
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CSE to consider listing more small and medium scale companies The Colombo Stock Exchange (CSE) will consider listing of more small and medium scale companies at the stock market. The CSE, Director General, Hiran Mendis has expressed willingness in looking at the possibility of drafting a separate set of rules to accommodate small and medium industrialists (SMEs) into the existing listing system at the request of the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL). The FCCISL through its Policy Support Unit has requested the CSE to make arrangements to create a separate listing board for the SMEs in the country. The FCCISL and CSE officials have agreed to conduct a series of public awareness campaigns at national and provincial levels to educate the SMEs on the listing procedures at the Colombo Stock Market. The Policy Support Unit and the CSE will form a joint committee to study the proposal. Currently the CSE has two main criteria for listing including the Main Board on issued capital of Rs. 75,000,000 and a Second Board on issued and paid up capital of Rs. 5,000,000. The proposal was also mooted to reduce the paid up capital requirement for the second board listing or else to create new listing procedures to accommodate a large number of SMEs at the stock market thereby providing them access to obtain local and foreign public funds. The first public seminar on the listing procedures will be held in September. |
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