CSE targets new listings

In the first five months of 2014, the Colombo Stock Exchange (CSE) has outperformed its major indicators of 2013, with the All Share Price Index (ASPI) closing at 6,263.46 on May 30, a 5.9 percent increase and the S and P SL 20 closing at 3,454.61 on the same day, a 5.8 percent increase.

The Bourse has also proved to be an attractive avenue for investment, considering the prevailing Fixed Deposit interest rates of 5 to 6 percent.

Nearly 46 percent of stocks have performed outstandingly, where 137, of the 293 listed, companies have given returns above 5 percent, including 49 companies providing returns over 20 percent, share prices of 51 companies appreciating by 10-20 percent and 37 companies increasing in value by 5-10 percent.

The listing of new companies on the Exchange is also gathering momentum, with seven companies listing and increasing the number of listed companies to 293.

In the first five months of the year, the CSE saw three equity IPOs raising Rs. 2,584 million, four debt IPO's raising Rs. 5,500 million and one equity introduction. The Rs. 2,584 million raised through equity IPOs is the highest since 2011.

The CSE under the Securities and Exchange Commission's (SEC) 10-point market development plan targets more companies in varied industry sectors to list and looks forward to add more listings in the second half of the year.

The Colombo Stock Exchange (CSE) operates the only share market in Sri Lanka and provides a transparent and regulated environment.

It is a company that is limited by guarantee, set up under the Laws of Sri Lanka. The CSE is licensed by the Securities and Exchange Commission of Sri Lanka (SEC) and is a mutual exchange consisting of 15 Members and 15 Trading Members. All Members and Trading Members are licensed by the SEC to operate as Stockbrokers.