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| Sunday, 19 January 2003 |
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| News Business Features Editorial
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Newsmaker of the Week Shares of Sri Lanka Telecom (SLT), the national telecommunication operator, started trading at the Colombo Stock Exchange (CSE) on January 14. The 216.5 million shares of SLT were issued through an Initial Public Offering (IPO) last November, raising Rs 3.2 billion for the Government. On the first day of trading, 5.1 million shares were traded with a turnover of Rs 81 million. The share closed at Rs 16, an increase of one rupee from its issue price and an increase of six rupees from the par value. On the second day of trading, SLT sold three million shares with the price ranging from Rs 15.30 to Rs 15.75. It is the biggest and most profitable listed company in the country, accounting for 18 per cent of CSE's market capitalisation. Thilanga Sumathipala, SLT Chairman "We are happy about the progress the shares are making at the CSE, though it was a lull day. "The issue has given a huge boost to the share market as it is the biggest company to be listed on the bourse." |
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