CSE amends listing rules

The listing rules relating to the eligibility criteria for the Main Board and Diri Savi Board have been amended by the Colombo Stock Exchange.

Making an announcement the CSE yesterday said the amended rules will be applicable from April 1, 2011.

Accordingly Rule 2.1.2 and rule 2.1.3 of the CSE Listing Rules will be amended as on listing of shares the eligibility to be listed on the Main Board Stated Capital need to be not less than Rupees five hundred million (Rs 500,000,000) at the time of listing, and positive net assets as per the consolidated audited financial statements for the last two financial years immediately preceding the date of application.

The eligibility to be listed on the Diri Savi board is amended as stated capital of not less than rupees hundred million (Rs 100,000,000) at the time of listing and positive net assets as per the consolidated audited financial statements for the financial year immediately preceding the date of application.

Amendments also follow as a minimum public holding of 10 percent of the total number of shares for which the listing is sought which shall be in the hands of a minimum number of 100 public shareholders holding not less than 100 shares each and an operating history of at least one year immediately preceding the date of application.

Net Assets shall mean total assets after deducting total liabilities, preference share capital and advance against share capital.

source - www.dailynews.lk