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Saturday, June 4, 2011

CSE showcased at London; Seven more IPO’s to come

Sri Lanka’s ten listed Bluechips have made a presentation to London investors at “Sri Lanka Capital Market Day” yesterday. Securities & Exchange Commission Chairperson Indrani Sugathadasa had said that six or seven companies are planning Initial Public Offerings (IPOs) in the months to come.

Subsequently in an interview with London reporters Sugathadasa had said that financial and information technology companies will be making the offerings.

“We expect many IPOs to come in, and at the moment there are six or seven IPOs in the pipeline,” Sugathadasa had said citing that local market liquidity would further increase with more listings.

Sugathadasa had further said that Sri Lanka had also received “about 10” bids to set up a commodity exchange in the island and authorities hope to award a tender by the end of 2011.

Sri Lanka’s Colombo All-Share Index surged more than threefold since the end of the 26-year civil war in May 2009, and had appreciated 11% so far this year. The analysts’ data shows that the country’s eight 2010 IPOs had raised nearly US $ 36.5 million.

source - www.dailymirror.lk