- Sanasa Development Bank Ltd. (SDBL) debuted today on the Main
Board, enhancing the already well-represented banks, finance and
insurance sector of the Colombo Stock Exchange.SDBL will be the 34th Main Board listed firm in the sector and the 58th
overall inclusive of Diri Savi Board firms within the financial
services sector. In the broader market, SDBL is the 281st listed
company. 25.17 million shares were listed by a way of an introduction. The reference price of SDB share was Rs. 125.
Prior to the listing the World Bank’s private sector investment arm, International Finance Corporation (IFC) has acquired a 3.57% stake amounting to 900,000 shares for Rs. 99 million.No trades took place for the day.
IFC’s confidence in SDBL augurs well for the new entrant, apart from its own unique strengths.Sanasa Insurance Company owns a 4.17% stake and People’s Leasing Company holds 3.97%. Several regional Sanasa trust companies are among other major shareholders whilst there are 63,290 shareholders comprising of SANASA societies which collectively hold a 77% stake in SBDL.(http://www.ft.lk/2012/05/31/sanasa-dev-bank-debuts-on-cse-today-ifc-buys-3-57-stake-for-rs-99-m/)
CSE on 17th May 2012
- Shares of Taprobane Holdings Ltd debuted on the Colombo Stock Exchange today. This is 280 th entry to the stock market of Sri Lanka.
732,949,140 ordinary voting shares of the company have been listed on the Diri Savi Board by a way of an Introduction. The assigned security code was TAP-N-0000 and the company is classified under the Diversified Sector. The principal business of the company is investments and management of its associates and subsidiaries as well as portfolio management. The company holds a 28% stake in Browns Investments Plc.The reference share price was Rs.6. The trading commenced with a price of Rs.7, reached a maximum of Rs.10 and closed at Rs. 7.20. The last traded price was R. 7.
- Dialog Axiata said yesterday that following the completion of the amalgamation of Suntel Ltd., with its parent Dialog Broadband Networks Ltd., Suntel will cease to exist as a corporate entity from 15th May. Its assets, liabilities and operations in their entirety have been subsumed by Dialog Broad band Networks Ltd., a subsidiary of Dialog Axiata.
Suntel’s fixed telecom infrastructure is based on a 382 base station strong network delivering fixed voice, broadband and data communication services using CDMA, WiMax and other fixed wireless access technologies.In December last year Dialog Broadband acquired Suntel for $ 27.95 million.
