On 3rd June 2019, the shares of Mahaweli Coconut Plantations Limited (MCPL) commenced trading on the Colombo Stock Exchange (CSE). MCPL is the first company to be listed on the CSE after a lapse of 15 months. MCPL was listed on the CSE through an Introduction which was managed by Merchant Bank of Sri Lanka & Finance PLC (MBSL). Subsequent to the listing the share price of MCPL was increased by 11% on the first day of trading on the CSE. The shares of MCPL traded at a price of LKR 65 on 7th June 2019.
MCPL is the first Coconut Plantation Company to be listed on the CSE. MCPL Managing Director, Felix Fernandopulle speaking at the ceremony stated that the company has had a consistent growth trajectory since inception, where Mahaweli Coconut Plantations, even in the recent past, has outperformed the national average of the number of coconuts produced per hectare. Ms Karnika Jayatilake, DGM – Legal / Company Secretary and Head of Corporate Advisory & Capital Markets Division, Ms Lalangi Goonewardena, Chief Manager, Mr Dishan Vitharanage – Acting Manager and Mr S Karthigan – Deputy Manager of MBSL participated at the Listing ceremony held at the CSE on 3rd June 2019.
MBSL, which was established in 1982 is a subsidiary of Bank of Ceylon & the pioneer Merchant Banking Institution in Sri Lanka. The team of MBSL Corporate Advisory & Capital Markets division include expertise driven from professional experience in the industry. MBSL has successfully completed many Initial Public Offerings (IPOs) to date and has given good returns to all types of investors, let it be the corporate clients, individuals or even traders.