Sri Lanka airline catering unit listing shelved

June 28, 2011 (LBO) – A plan to take public SriLankan Catering, a wholly owned unit of Sri Lanka’s state-run national carrier has been shelved amid a flood of private sector initial offers, Treasury secretary P B Jayasundera said. Several Sri Lankan private sector firms have raised money from capital markets in recent weeks. “Now the private sector is moving,” he said, adding that firms like the Jetwing leisure group were also planning to list.

Jayasundera said no time frame could be given for a planned listing of Sri Lanka Insurance Corporation, another state-run firm that was awaited by the market.