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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » MAS Holdings, Brandix, Maliban and Munchee urged to go public on the Lankan bourse

MAS Holdings, Brandix, Maliban and Munchee urged to go public on the Lankan bourse

+3
The Alchemist
Leon
K.Haputantri
7 posters

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K.Haputantri

K.Haputantri
Co-Admin
and Tokyo Cement Company (Lanka) participated at this event.
and Tokyo Cement Company (Lanka) participated at this event.
MAS Holdings, Brandix, Maliban and Munchee urged to go public on the Lankan bourse
By Duruthu Edirimuni Chandrasekera
Sunday Times

Sri Lanka’s garment giants, MAS Holdings and Brandix along with top biscuit brands – Munchee and Maliban are among some 150 private companies being urged to go public and list in the Colombo Stock Exchange.

These companies along with Tudawe Brothers, Hirdaramani’s, Finco Group’s ICC and Sanken Lanka, among others, have been invited to a top forum next month aimed at attracting companies to go public.

The meeting called the ‘issuers forum’ is being organized by the Colombo Stock Exchange (CSE) and the Securities and Exchange Commission (SEC) to tap companies that have the potential to list on the CSE, according to SEC sources.

“They have identified the firms and have sent invitations to them,” one source told the Business Times. He said about 150 firms have been invited. “This is done in a bid to increase the liquidity in the CSE,” he said.

He added that the SEC and the CSE have met many private companies and have had discussions with them.

He said that they met the managements of these firms and enlightened them on the benefits of going public and that a similar attempt will be exercised next month at the issuers’ forum.

The financial gain in the form of raising capital is the most distinct advantage of a company going public. Capital can be used to fund research and development, fund capital expenditure or even used to pay off existing debt. Going public provides a company with equity financing opportunities to grow its business – from expansion of operations to acquisitions.

The CSE saw 17 firms list in the market last year, lower however from 29 firms in 2011.

The SEC is also exploring possibilities of bringing in a minimum free float requirement, the source said. He said that this emerged at the “Invest Sri Lanka”Investor Forum which was held in Hong Kong on Monday, showcasing the economic growth prospects and investment opportunities in Sri Lanka’s capital market.

CSE Chairman Krishan Balendra, said in Hong Kong that the rules have been drafted and that they are currently obtaining stakeholders’ comments on the new set of rules. “We expect these minimum free float rules to be brought in, in the next six months,” he said.

Mr. Balendra said that the CSE’s market cap is low, at US$19 billion and that it is also low relative to the economy, and at 30 per cent of GDP is significantly lower than other markets in the region. The Hong Kong meeting attracted over a 100 participants, including institutional and high net worth investors, and fund managers. Eleven leading listed companies from Sri Lanka namely John Keells Holdings, Commercial Bank of Ceylon, DFCC Bank, Distilleries Company of Sri Lanka, Nations Trust Bank, Dialog Axiata, Hayley’s, Ceylinco Insurance, Access Engineering, People’s Leasing & Finance, and Tokyo Cement Company (Lanka) participated at this event.

Leon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
This will be an excellent move by SEC if they can convince those big companies. Specially MAS and Hidramani. This definitely will expose CSE to the world as well.

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@K.Haputantri wrote:
Mr. Balendra said that the CSE’s market cap is low, at US$19 billion and that it is also low relative to the economy, and at 30 per cent of GDP is significantly lower than other markets in the region. The Hong Kong meeting attracted over a 100 participants, including institutional and high net worth investors, and fund managers. Eleven leading listed companies from Sri Lanka namely John Keells Holdings, Commercial Bank of Ceylon, DFCC Bank, Distilleries Company of Sri Lanka, Nations Trust Bank, Dialog Axiata, Hayley’s, Ceylinco Insurance, Access Engineering, People’s Leasing & Finance,  and Tokyo Cement Company (Lanka) participated at this event.
Just in comparison, Apple Inc, the worlds largest publicly traded company by market capitalization is now trading at approx usd 500 per share. it is trading at approx 10 times p/e. market capitalization is usd 460 billion ( 23 times the entire CSE !). it has approx usd 140 billion cash, which is over 2 times Sri-Lanka's entire annual GDP.

Steve Jobs founded Apple in 1976 along with 2 other friends in his Parents garage !

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@The Alchemist wrote:
@K.Haputantri wrote:
Mr. Balendra said that the CSE’s market cap is low, at US$19 billion and that it is also low relative to the economy, and at 30 per cent of GDP is significantly lower than other markets in the region. The Hong Kong meeting attracted over a 100 participants, including institutional and high net worth investors, and fund managers. Eleven leading listed companies from Sri Lanka namely John Keells Holdings, Commercial Bank of Ceylon, DFCC Bank, Distilleries Company of Sri Lanka, Nations Trust Bank, Dialog Axiata, Hayley’s, Ceylinco Insurance, Access Engineering, People’s Leasing & Finance,  and Tokyo Cement Company (Lanka) participated at this event.
Just in comparison, Apple Inc, the worlds largest publicly traded company by market capitalization is now trading at approx usd 500 per share. it is trading at approx 10 times p/e. market capitalization is usd 460 billion ( 23 times the entire CSE !). it has approx usd 140 billion cash, which is over 2 times Sri-Lanka's entire annual GDP.

Steve Jobs founded Apple in 1976 along with 2 other friends in his Parents garage !
Interesting.. How small we are

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
All above are well managed companies

All of us will be benefited if they become listed publiccompanies

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@D.G.Dayaratne wrote:All above are well managed companies

All of us will be benefited if they become listed  publiccompanies
How by trading or investing in their overpriced IPOs?

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
If overprice don't buy.

Another problem is Buying large quantity of stocks by Govt organizations
appointing political people

This may create unnecessary management problem

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
MAS Holdings Chairman Mahesh Amalean discusses apparel manufacturing in Sri Lanka with Scarlet Fu on Bloomberg Television's "Market Makers." (Source: Bloomberg)

http://www.bloomberg.com/video/a-look-at-garment-manufacturing-in-sri-lanka-OxdkCAOJRO2c~AfXi9HFzA.html

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