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* Sri Lanka's IT-BPO and Knowledge Services industry enlightened on going public
Thu, Mar 6, 2014, 12:32 am SL Time, ColomboPage News Desk, Sri Lanka.

Mar 05, Colombo: Sri Lanka's Colombo Stock Exchange (CSE) and the regulator, Securities and Exchange Commission (SEC) in association with the Sri Lanka Association of Software and Service Companies (SLASSCOM), hosted an issuer relations forum on the 5th of March to expose the IT-BPO and Knowledge Services Industry to the benefits of listing on the Stock Exchange.

Over 100 Chief Executive Officers and Chief Financial Officers of unlisted potential issuer companies within the industry participated in the forum held at the Dialog Future World Auditorium in Colombo Wednesday.

During the prospective listing process, the participants were able to network with the senior management representatives of Investment Banks and build mutually beneficial corporate relationships.

Deputy Director General and Officer-in-Charge-SEC Dhammika Perera welcomed the guests to the event.

The proceedings got underway with an introduction by Chairman-SLASSCOM Madu Ratnayake and an overview of the benefits of listing by CEO-CSE Rajeeva Bandaranaike, followed by a presentation on "Valuing your Company" by Vice-President of Copal Amba (A Moody’s Subsidiary) Asanka Herath.

Participants at the event got the opportunity to pose their questions to a panel comprising of Director-CSE Ray Abeywardena, AGM-Regulatory Affairs-CSE Renuke Wijayawardhane, Deputy Director General and Officer-in-Charge-SEC Dhammika Perera and moderated by Executive Director-SLASSCOM Imran Furkan.

A common misconception that listing on the Stock Exchange was merely a tool for raising capital was dispelled through the presentations by the speakers and the panelists.

"Listing on the Stock Exchange brings with it a number of benefits, in addition to the raising of capital. A company is able to enhance its corporate profile through visibility, attribute an objective value to the company, obtain tax incentives and create an optimal capital structure. There is also a people centric focus to going public, since it enables a company to align the interests of shareholders, management and employees, while attracting strategic investors. Finally a listing on the Stock Exchange is an ideal means of sustaining your business continuity, since it acts as alternative currency for acquisitions and mergers, increases liquidity and provides you with the option of returning to the market to fund the next phase of growth for your company," CSE CEO Rajeeva Bandaranaike said, in his presentation "the Benefits of Listing".

"As the IT/BPM industry is going through a fast phased growth, we are delighted to partner with CSE to bring a whole new sector to the local Stock Exchange. Most mature markets have a very vibrant technology sector and we are glad to be able to take the first steps in creating the path for the same in Sri Lankan," SLASSCOM Chairman Madu Ratnayake said.

"The country seeks to project itself as a knowledge hub and therefore the development of the IT services industry is vital. By listing on the Stock Exchange IT companies are able to better strengthen their internal structures and become more attractive to potential strategic investors who would value transparency and governance. The dynamic engagements of SLASSCOM members are in a borderless and competitive environment and many benefits highlighted during the forum will allow a new breed of entrepreneurs to capture this as another window of opportunity," Dhammika Perera said.

The event was live streamed via the CSE website in order to facilitate better engagement with the target industry.

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