The shares of First Capital Treasuries PLC (CODE: FCT-N-0000) commenced trading on the Colombo Stock Exchange (CSE) today. The shares have been listed on the Diri Savi Board of the CSE under the “Investment Banking & Brokerage” sector. The occasion was marked with a special Bell Ringing Ceremony.
Representing First Capital Treasuries PLC, Chairman Mr. Nishan Fernando, Managing Director Mr. Dinesh Schaffter, Director/CEO Mr. Dilshan Wirasekara, Directors Ms. Minette Perera, Mr. Chandan de Silva joined the event.
The CSE was represented by Chief Executive Officer Mr. Rajeeva Bandaranaike, Chief Regulatory Officer Mr. Renuke Wijayawardhane and Head of Listings Ms. Vinduni Dullewe at the event.
CEO of the CSE, Mr. Rajeeva Bandaranaike, speaking at the ceremony, congratulated First Capital Treasuries PLC on its initiative to go public. “With the history of nearly 40 years First Capital Treasuries has functioned as a pioneer licensed primary dealer appointed by the central bank to deal in government securities and we are happy to see that First Capital Treasuries is now opening its doors to the public, to join their journey of wealth creation.
Commenting of the Performance at the CSE, Mr. Bandaranaike added “As we conclude 2021. We are delighted to note, that the CSE has showcased a strong growth trajectory, both in terms of capital raising, as well as price growth and being of immense value to Sri Lankan corporates. As you know Sri Lankan companies are increasingly recognizing the stock exchange as a platform to achieve greater financial freedom, improved access to capital, enhanced global profile, access to liquidity, and also an attractive proposition to tap into the global capital pool.”
Speaking at the event, Chairman of First Capital Treasuries PLC, Mr. Nishan Fernando, thanked the CSE, the investor community, staff members of First Capital Treasuries PLC and the media for the support extended during the IPO. Speaking on the listing experience he added, “Taking the company public has been part of our strategic plan for some time now. Listing and trading shares publicly gives a boost to both the brand equity and the trustworthiness of any company. It also gives the company the opportunity to truly understand its perceived value in the market. Then, there are the tax exemptions being offered by the government. Taking all these benefits into consideration, we felt that the time was right for us to invite the general public to be a part of First Capital Treasuries’ growth story.”
Commenting on the performance of the CSE Mr. Fernando added, “I commend the CSE for their outstanding work over the last couple of years and look forward to seeing them do more to encourage other companies to list. The market has seen a good number of listings take place this year. I believe this will continue.”
First Capital Treasuries PLC is a subsidiary of the Janashakthi Group’s First Capital Holdings PLC.