Logan Rockefeller enters Lanka
To invest Rs 2.5 b in strategic investments:
Charumini DE SILVA
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From left: LR Global Lanka Asset Management
Managing Director Channa de Silva, LR Global Lanka Asset
Management Company, Chairman Allen Pathmarajah and LR Global New
York Managing Partner Don LaGuardia at the launch.
Picture by Sumanachandra Ariyawansa |
The Logan Rockefeller Global entered Sri Lanka with the opening of
Logan Rockefeller Global Lanka Asset Management Company yesterday.
The company also announced their sister company LR Global Strategic
Investments will invest Rs 2.5 billion in Sri Lanka.
LR Global Lanka Asset Management Company Managing Director Channa de
Silva said the company intends to bring significant portfolio
investments to Sri Lanka.
It will support companies to list in the market making sizable
investments, pre-Initial Public Offering (IPO) as well as secondary
market investments in the stock market, he said. “The company is
committed to build one of the best investment teams in Sri Lanka and
will work strongly with other frontier markets too,” de Silva said.
The Managing Director said the company will get listed in the Colombo
Stock Exchange (CSE) within a period of one year. We hope to set up at
least five to six companies in motion in the short and medium terms.
LR Global New York Managing Partner, Don LaGuardia said Sri Lanka has
shown optimistic outcomes during the post war era. The political
stability, low interest rates and high foreign remittances are some of
the key factors we selected Sri Lanka.
We expect that the country’s gross Domestic Production (GDP) to be
increased gradually.
“We are here for long-term investment opportunities. There are
significant possibilities especially for the frontier markets.
With the optimism and opportunities available we expect more foreign
investors to Sri Lanka,” he said.
LaGuardia said we intend to raise capital locally and introduce more
retail trading by attracting foreign investors to widen the market
activities.
This will provide a better chance for the Sri Lankan Diaspora to
contribute to the country’s economy. At present the capital market is
lucrative and we hope that this initiative of the company will be a
successful venture.
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