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manusath-derana

Moves to list BOI companies with CSE from day of inception

March, 13, 2014

Securities Exchange Commission of Sri Lanka chairman Dr. Nalaka Godahewa says the commissions has informed the Board of Investment (BOI) that there is a possibility of creating a separate board to list companies under its projects at the Colombo Stock Exchange (CSE) from their inception.

Securities Exchange Commission chief Dr. Nalaka Godahewa told AdaderanaBiz this was in response to a request from the BOI.

“A company can be listed at the CSE only three years after its inception. However, the BOI requested us whether a separate board could be created to list BOI companies from the day of their inception.

“After due consideration, we informed the BOI that such a board could be introduced for companies which invest US$ 50 million or more to be listed from the day of their inception. But only qualified investors could engage in share market dealings of these companies. This means investors like banks which engage in investments after having analysed the market.

“This limitation was introduced to safeguard the investors. We further informed the BOI to again inform the Exchange Commission once it has found several prospective companies,” said Dr. Nalaka Godahewa.

Apart from this, there has also been a request for a separate board to be created at the CSE for the Small and medium enterprises (SMEs), added Dr. Nalaka Godahewa.

Currently, there are two boards listing companies at the CSE, which are the main board and the Diri Saviya board.