The Colombo Stock Exchange (CSE) successfully concluded the fifth virtual forum organized as part of an awareness drive for island-wide Small and Medium Enterprises (SME). The event, which was held for SMEs in Kandy, attracted over 25 companies, indicating a strong interest among the entrepreneurial community based in the region. The series of virtual forums is hosted by CSE with the objective of promoting the advantages of listing on the Empower Board. The Kandy forum follows ones organized for SMEs in Matara, Negombo, Anuradhapura and Jaffna over the past months.
SMEs are a key contributor to the Sri Lanka Gross Domestic Product (GDP). The objective of the series is to encourage SMEs to understand the availability of an alternative method to raise capital and to illustrate the wealth of opportunities provided by listing on the Empower Board.
Mr. Rohan Senewiratne, Managing Director of Atarah Capital Partners (PVT) Limited joined the discussion with insight on the listing process, why an SME should list on The Empower Board and the role of a sponsor. Mr. Suraj Surwaweera, Managing Director of Chrissworld Limited, shared the company’s experience in the listing process. Mr. Dhananjaya Abeysiriwardana, Manager of the Kandy Branch, CSE, joined the guest speakers in a Question-and-Answer session which fostered an engaging and open conversation with the participating entrepreneurs.
The speakers addressed the gathering on how the capital market allows companies to build a stronger investor base, add value to the company by maintaining business with more discipline and regulation while enhancing recognition and confidence among stakeholders.
CSE has indicated strong growth in terms of Capital Raising in 2021 and has facilitated 30 new listings, including the highest number of equity IPOs that the CSE has facilitated since 2014. In total, the stock market has raised a value of LKR 95 Bn for the year 2021. CSE anticipates more SMEs entering the capital market with the recently approved listing of EML Consultants Ltd., which is the second Empower Board listing at CSE. It is encouraging to witness Sri Lankan corporates increasingly recognizing the exchange as a platform to achieve greater financial freedom, improved access to capital, enhanced global profile, access to liquidity and as an attractive proposition to tap into global capital.
For more information on the Empower Board and CSE, visit www.cse.lk or contact Purasisi Jinadasa, Head of Origination & Issuer Relations at CSE.