The Sunday Leader

Access To Foreign Capital

A company to promote locally listed firms among overseas fund managers in order to access foreign capital will kick off in Colombo in March.

This company which will be affiliated to a Toronto based company engaged in similar operations will be headed by the C.E.O. of a top broking house in Colombo.
The target audience will be international fund managers operating in financial capitals such as New York and London.

“It will mean that those locally listed companies that are to be promoted will have physical inter-action with overseas fund mangers either in Sri Lanka or abroad,” market sources told The Sunday Leader.

Currently such promotions are done through local stock brokers, they said.
The sources said that other than John Keells Holdings which has an international exposure to foreign capital markets, there are several other blue-chip companies  “fit” to access foreign capital. They however lack the wherewithal to engage in such operations, sources said.
They simply don’t know how to access foreign capital. This new company will fill in that breach.

The name of this company is kept a closely guarded secret and will be revealed at the right time, the sources said.
Its affiliate company in Toronto has a Sri Lankan shareholder who has a 25% equity stake in it. They are also involved in similar operations which their local counterpart will embark on in March, they said.

1 Comment for “Access To Foreign Capital”

  1. Reality

    Who will want to invest in Sri Lanka when Public money has been spirited away by leading business houses such as Ceylinco. The State is turning a blind eye without bringing the guilty to justice. If investments of local citizens are not safe guarded by the state will they safeguard the foreign investor?

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