Business News from Sri Lanka: The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) have continued to engage regional entrepreneurs through a series of events presenting CSE’s SME listing platform, the Empower Board. The latest events were organized in Jaffna and Matara recently and followed forums organized in Anuradhapura, Negombo, Kurunegala, and Kandy.
These events have been effective in creating awareness on obtaining equity-based capital among entrepreneurs and have resulted in a number of regional companies considering listing on the Empower Board. Upcoming events are also planned for Polonnaruwaand Batticaloaon 20thand 21st September respectively.
The events gather entrepreneurs, chamber representatives, bankers, accounting and audit professionals and other related stakeholders based in the regions for a discussion on why entrepreneurs should actively consider listing on the Empower Board.
The events also create a platform for companies to engage Empower Board sponsors, which are organizations that act as key advisors in the listing process. The Empower Board offers an equity-based solution to SMEs and entrepreneurs that are seeking versatile methods of raising capital to pursue growth. The requirements and the process involved with a listing on the Empower Board have been tailored to capture the context of SMEs and growing companies, and largely vary from the other listing platforms at CSE.
Companies listing on Empower are set to operate in a comparatively relaxed post listing environment and will benefit from pre and post-listing support. The Empower Board aims to capture companies that could demonstrate a stated capital of between Rs. 25 million and Rs. 100 million at the point of listing. The event in Jaffna marked the first occasion a stock market listing related event was conducted in the Northern Province and drew a keen interest among the business community-based in the region. Speakers at the event included the Chairman of SEC Mr. Ranel T. Wijesinha, Assistant Manager at NDB Investment Bank Mr. Sugirthan Alagesanand CSE Jaffna Branch Manager Mr. Thileepan Muthucumaraswamy. CSE CEO Mr. Rajeeva Bandaranaike was also present at the event.
The event in Matara featured insights from Harischandra Mills PLC, a listed company that hails from the Southern Province. Director Mrs. R. K. Samarasingheand Management Accountant Mr. Priyanka Prasadwere presents at the event while the other speakers included Mr. Apoorwa De Alwis Analyst, Corporate Finance at Acuity Partners and CSE Matara Branch Manager Mr. Nirodha Abeygunawardena.