CSE conducts issuer forum in Maldives
The Colombo Stock Exchange (CSE), the Maldives Stock Exchange (MSE),
and the Capital Market Development Authority of Maldives (CMDA),
conducted a roadshow for potential Maldivian Issuers and Investors,
under the MoU signed between the two exchanges .
The forum hosted by the Capital Market Development Authority of the
Maldives was held on March 28 and 29 at the Maldives Monetary Authority
Building in Male.
The forum presented the CSE as a secondary listing destination for
Maldivian companies and promoted the Sri Lankan capital market to
investors. The event marked the first Issuer Forum conducted by CSE on
foreign soil. Over 30 representatives from 20 potential Issuers from the
Maldives and seven investment banks from Sri Lanka were present.
The Issuer Forum comes against the backdrop of a strategic initiative
by the CSE to introduce a Multi-Currency Board to list and trade
companies incorporated and operating outside Sri Lanka. The approvals
for the board have been obtained by the Central Bank and the CSE is
awaiting approval from the Securities and Exchange Commission of Sri
The CEO of CSE, Rajeeva Bandaranaike made a presentation on the
benefits of listing and addressed the common concerns on a public
listing by potential issuers while the COO of CSE, Renuke Wijayawardhane
made a presentation on listing criteria and requirements.
The Forum also featured a Sri Lankan listed company, where Chairman
and MD of Softlogic Holdings PLC, Ashok Pathirage and Head of Strategy
Chintaka Ranasinghe shared the experience of Softlogic Holdings using
the Sri Lankan capital market to fund their growth.
Minister of Economic Development in the Maldives, Mohamed Saeed, the
Chief Guest at the Issuer Forum commended Sri Lankan listed companies
for effective capital market engagement and called on Maldivian
companies to embrace the many opportunities in the Sri Lankan capital
market. CSE chairman, Vajira Kulatilaka said engaging Maldivian
companies has long been an objective at CSE and that reaching out to
them first, represents the trust and confidence placed in the Maldives
and its business sector.