The New Delhi-headquartered Religare Group plans to establish its footprint in Sri Lanka initially in stock broking by taking a 50 per cent stake in Bartleet Mallory Stockbrokers (BMS), the announcement said. The transaction is subject to regulatory approval. Bartleet Mallory Stockbrokers which is fully-owned by Bartleet TransCapital has decided to increase its share capital to accommodate Religare Enterprises.
The partnership will bring in best practices in non-banking financial services including broking operations to the Sri Lankan market and leverage Bartleet’s established brand reputation, client relationships and market leading stock broking presence in Sri Lanka to attract more international investors to the Colombo Stock Exchange and to facilitate an extension of services to regional markets such as Bangladesh, Maldives and Pakistan, Bartleet TransCapital Chairman and former Central Bank Governor A S Jayawardena said.
source - www.dailynews.lk
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