More Sri Lanka IPOs to come by end 2016: CSE official

Aug 19, 2016 (LBO) – Sri Lanka will see some new IPOs on the Colombo Stock Exchange by the end of 2016 and also expect some non strategic state enterprises to list, a senior official said.

“There are few IPOs in the pipeline,” Rajeeva Bandaranaike, the chief executive of the CSE, said.

“We are waiting for the government to list at least some of the non-strategic enterprises soon and this will help to put some life and positivity into the markets.”

Two state enterprises are already listed with the CSE.

The shares of Amana Takaful Life Limited were listed on the Colombo Stock Exchange on Thursday.

Accordingly, 50 million shares would be listed on the Diri Savi Board of the CSE and will be classified under Banks, Finance and Insurance sector.

The initial public offering of Amana Takaful Life by way of an offer for sale of 75 million rupees was oversubscribed at its opening day on 21st July, 2016.