CSE listing rules revised

The Listing Rules of the Colombo Stock Exchange (CSE) have been revised subsequent to obtaining comments from the stakeholders. The changes arising from the new Companies Act have been incorporated in the new rules, a media release from the CSE said.

The name “Second Board” has been changed to Diri Savi Board in the new rules, for listing of shares. The eligibility criteria to list equity and debentures of a company have been revised.

New rules have been incorporated to list units of closed-end funds, scrip dividends, re-purchase of shares, redemptions, minority buyouts and the further issue of shares by a listed entity through public subscription.

Rules relating to the further issue of securities, such as Rights Issues, Capitalization of reserves, Share Swaps and Warrants have also been revised.Greater flexibility has been provided to listed companies on the circulation of interim financial statements and Annual Reports.