Tuesday, March 4, 2014
Sri Lankan IT-BPO and Knowledge Services industry taught importance of going public by CSE
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) is scheduled to host a forum to educate the IT-BPO and Knowledge Services industry on the importance of going public.
The Forum is another step to attract companies that are of high value and worth to the capital market, in order for them to enter into a mutually beneficial partnership of wealth creation and value addition with the public, the CSE said in a statement.
The potential-issuer relations forum will be held on the 5th of March at the Dialog Future World Auditorium, from 08.30 a.m. to 11.00 a.m.
The programme will commence with an introduction to the benefits of listing by CEO of CSE Rajeeva Bandaranaike, followed by a presentation on "Valuing your Company" by Vice-President of Copal Amba (A Moody's Subsidiary) Asanka Herath. Chairman of SLASSCOM Madu Ratnayake will also speak at the event.
The CEOs and CFOs of potential-issuer companies from the target industry will be given an opportunity to pose their questions to a distinguished panel of the capital market.
The panel will comprise Director of CSE Ray Abeywardena, AGM of Regulatory Affairs at CSE Renuke Wijayawardhane, and Deputy Director General & Officer-in-Charge of SEC Dhammika Perera. The panel will be moderated by Executive Director of SLASSCOM Imran Furkan.
The forum is further seen as an ideal opportunity for the decision makers of these entrepreneurial endeavors to mingle and network with the senior management representatives of Investment Banks, to build mutually beneficial relationships for the future, the statement said.
"Sri Lankan IT/BPM industry is on a rapid growth trajectory and gaining increasing attention globally. We would anticipate a growth of over 23% YoY this year at industry level, therefore many of the SLASSCOM companies are now gearing for their next phase of growth. Listing on the Stock Market would create avenues for companies to raise funds for this growth acceleration and will provide the general public an opportunity to participate in this very exciting growth phase of the industry, as investors. We are delighted to work with SEC and CSE to help companies understand the journey of raising funds from the capital market," Chairman of SLASSCOM Mr. Madu Ratnayake said.
"The Sri Lankan Capital Market is a vibrant atmosphere where long established, as well as entrepreneurial businesses can thrive by raising capital and maintaining a high standard of accountability to their stakeholders. By entering this affirmative environment, members of the knowledge services industry in Sri Lanka can benefit a great deal," Deputy Director General and Officer-in-Charge of SEC Dhammika Perera said.
"Listing on the Stock Exchange helps a company enhance its corporate profile and gives it a competitive advantage, while helping the company increase its worth by attracting strategic investors and high value employees. These benefits boost the prestige of a company and can thereby be utilized to fund the next stage of a company's expansion strategy," CEO of CSE Rajeeva Bandaranaike said.