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Securities and Exchange Commission (SEC) Director General Malik Cader has been offered a senior position in the Finance Ministry and he may accept it if his service is required immediately, SEC Chairperson, Indrani Sugathadasa told Mirror Business Online a while ago. She was responding to a question in relation to a strong rumour that has [...]
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By Indika Sakalasooriya The main index of the Colombo Stock Exchange (CSE) has recorded a positive growth, though indices of most markets in the Asian region recorded negative growths, the CSE said in a media statement yesterday. “The Colombo Stock Exchange continues to reinforce its position among the regional markets as the All Share Price [...]
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By Jithendra Antonio Almost all investing in the Colombo Stock Market could be insider Sri Lanka as a small country with a growing small-scaled stock market, compared to the big capital markets in US, a top corporate figure and investor Nimal Perera said speaking at a Forum organized by Sri Lanka Institute of Directors on [...]
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The Colombo bourse now seems to be in a tricky situation as more Initial Public Offerings (IPOs) are squeezing the cash in the market, resulting in a downward trend. According to stock market analysts, a lot of cash is trapped in new IPOs that came into the market as well as the rights issues by [...]
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By Jithendra Antonio Investment Banking is a quite a new area to Sri Lankan businesses. Top Investment Bankers, Nishan Sumanadeera had facilitated the top ‘Deals’, the biggest investments made by listed companies during last three years. In 2009, he facilitated the C.W. Mackie sale for Lankem Group worth over Rs.1.4 billion, in 2010 Confifi Hotel [...]
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Responding to our story in yesterday’s issue titled “Rudra continues to exit from CSF’, a key investor of Nationa Lanka Finance (CSF) Jayaprakash Rudra in a letter informed Mirror Business that he has purchased 100,000 shares of CSF at a price ranging from Rs.24.70 to Rs.25. Meanwhile, in another filing CSF said to Colombo Stock [...]
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Sinhaputhra Finance PLC has maintained a strong liquidity ratio above its peers at 13% and sits on an unutilized potential of debt securitization of Rs. 1.7 billion. Sinhaputhra’s Fixed Deposit base is presently close to the Rs. 3 billion mark with capital and reserves of Rs. 484 million. In the recent past, Sinhaputhra Finance PLC made [...]
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Sri Lankan family-owned leisure and tourism group Jetwing plans to raise up to 4 billion rupees ($36.5 million) through an initial public offering to fund tourism expansion in the island nation. “We need about 8 billion rupees for new properties. We want to have the control, so we might consider 3 to 4 billion on [...]
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A subsidiary of Asia Capital PLC (ACAP) and an associate company of Richard Pieris Group, Asian Alliance Insurance Company PLC (AAIC) shares rose by 14.98% yesterday to a high of Rs.165 since June 6 high price of Rs.175. A total of 38,100 shares changed hands of AAIC whilst Asia Capital (ACAP) shares the major shareholder [...]
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The quarterly financial report of Nation Lanka PLC for the period ended 31st March 2011 reveals dramatic turnaround of the group far exceeding the expectations of the investor public. The group which faced financial crisis in the past has recorded a net profit of Rs. 1.3 million in the quarter under review compared to a [...]
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Delivering their promise made at the Initial Public Offering, the Board of Directors of Panasian Power PLC has taken a decision to add another 6.5 Mega Watts to their current 4.4 Mega Watts (produced presently by the company’s hydro power plants in Rathganga & Walapane). This additional capacity of 6.5 Mega Watts is presently owned [...]
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Business figure Ashok Pathirage’s IT and retail business focused Softlogic Holdings’ Initial Public Offering (IPO) will officially open for subscription today. Softlogic is offering 139 million shares to raise Rs.4.03 billion, each share priced at Rs.29. The issue will close on the day it is oversubscribed or on June 29, which ever the date earlier. [...]
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