Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka's CSE amends Listing Rules to facilitate secondary listing of foreign firms
Wed, Jan 9, 2019, 10:03 am SL Time, ColomboPage News Desk, Sri Lanka.

Jan 09, Colombo: The Colombo Stock Exchange (CSE) has amended the Listing Rules to facilitate the listing of shares by foreign companies on the Multi Currency Board (MCB) of the CSE, under the Alternate Market Segment.

In this regard, the CSE has also amended the ATS Rules and the CDS Rules to facilitate the MCB.

As per the amended Listing Rules, which are set under Section 10 of the CSE Listing Rules, a foreign entity may list its shares denominated in a currency approved by the Central Bank of Sri Lanka on the MCB of the CSE. Investing and trading in such shares will be permitted only to non-resident investors who operate through a Custodian Bank of the CDS.

A ‘foreign entity referred to herein means: A body corporate duly incorporated or established outside Sri Lanka, which has its shares listed on a stock exchange of the country of its incorporation and seeking a secondary listing of its shares on the Multi-Currency Board of the Exchange.

Also, it should have capital equivalent to an amount of no less than US $ 10 million, converted at the exchange rate prevailing at the date of submission of the listing application. Investing and trading in shares listed on the MCB will only be permitted to non-resident investors, who operate through a custodian bank of CDS.

The amended Listing Rules relating to the MCB are set out under Section 10 of the CSE Listing Rules.

 

ColomboPage - Recent 10 Stories ::
SLFP will take an honorable decision at the upcoming Presidential Polls - President
-- [6 minutes ago]
Special HC to continue case against Gotabhaya Rajapaksa when returned to the country after receiving medical treatments
-- [29 minutes ago]
Parent company of Expolanka, SGH Holdings Japan awards its Freight & Logistics Arm EFL for Outstanding Innovation
-- [53 minutes ago]
Sri Lanka economy achieved 3.7 percent growth in the 1st quarter of2019
-- [9 hours ago]
Strong governments didn't bring prosperity to low income families for last 21 years, PM responds to opposition
Inquiry ordered into the starvation death of an infant
PSC decides to hold witness testimony in secret from now on
Sri Lanka signs agreement with Japan to send skilled workers for employment
China donates security equipment to Sri Lanka parliament
U.S. Secretary of State unable to visit Sri Lanka during upcoming travel to region

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.