Sinhaputhra Finance listed in CSE

Sinhaputhra Finance Limited, Board Secretary Susan Gunawardena announced that on June 2. Sinhaputhra Finance Limited was listed in the Colombo Stock Exchange (CSE) Dirisaviya board.

The company qualified for the main board on all required counts, but was limited by the number of shareholders of shares clause which requires 1,000 or more shareholders. Yet with 400 plus shareholders the share is certainly bound to be active, in a resurging economy coupled with lower rates on vehicle imports recently announced. The initial day of listing saw a rush of buyers against limited sales which made the share price rally upto Rs 140 before settling at Rs 110 a day later.

The Sinhaputhra Finance Director Operations said that this brings greater transparency and greater exposure in the public eye to a finance company that has continued to honour its commitment. The recent expansions to Trincomalee, Kurunegala and the presence in Colombo fortified by a historic dominance in the Central Province, Sinhaputhra PLC is in good stead to reap the benefits of an optimistic business community.

With a market capitalization of close upon Rs 700 million, Sinhaputhra PLC is presently less that 05 percent of the total market capitalization of the Worlds second best performing stock exchange. The day’s trading was traditionally opened by the newly listed company on June 2. Sinhaputhra PLC - Managing Director Ravana Wijeyeratne launched the day’s trading, with Chairman K. H. K. Wijedasa sounding the bell in traditional fashion.