Sri Lanka’s stock exchange: Few people control it & few people rig it, says President

President Ranil Wickremesinghe says that he has questions about putting shares of the state-owned enterprises onto the current Stock Exchange.

“What is the platform for restructuring? Many of you say, send it to the Stock Exchange. I have my questions about it. The Stock Exchange is today identified not with the London Stock Exchange,” Wickremesinghe pointed out.

“There are many questions about the Stock Exchange that a few people control it and a few people rig it. Now can I put any state enterprise shares onto that to help a few people?”

He was delivering the keynote speech at the ReformNow Conference organized by the Advocata Institute.

“Either you all must change or we put up a new institution. I don’t want any more arguments on that. If you have to use the present Stock Exchange, we must all be satisfied that it is neutral and is benefit all.”

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Anura Ranasinghe
Anura Ranasinghe
5 days ago

Please conduct a case study of SLT restructuring. Basically 51% was owned by GOVT.35% shares were offered to NTT ..Nippon Telephone and Telegraph company..Japanese State own telecommunications company, 3% to employees and balance floated in COLOMBO Stock exchange