More companies seek CSE listing

Charumini DE SILVA

There is a growth in listing of companies in the Colombo Stock Exchange (CSE) compared to last year.

It is significant at a time when CSE is becoming more active.

There were only three listings of new companies in the CSE last year.

Two new companies have been listed this year and another two companies Raigam Wayamba Saltern Ltd., and Vallible Finance, will have their Initial Public Offerings (IPOs) this month, Colombo Stock Exchange Business Development Manager, Thushara Jayaratne told Daily News Business.

The contribution of the rural community is commendable while there are many requests for stock market branches in remote areas.

Out of the total turnover of the local individuals 16 percent was from CSE branches outside Colombo. This is an increase of 14.3 percent compared to last year’s performance, Jayaratne said.

“The time has come to expand the economy and with the current economic development projects the entire economy will improve rapidly,” he said.

Jayaratne said local and foreign participation in the market is equally important. Local investors kept the market active with peace being established in the country. There is a need to encourage more companies to get listed in the CSE to raise capital for their ventures and expand business.

The business community has now shown confidence in moving forward positively.

“With more companies getting listed in the CSE, companies could raise capital easily for their new projects. More economic activities will help the country, move forward,” he said.