CSE’s new member to start trading

LOLC Securities, the newest trading member of the Colombo Stock Exchange will start trading in the CSE, from today onwards.
Accordingly, the Broker will start trading in the Automated Trading System.
LOLC has also been given a license to operate as a Stock Broker.The Broker is the 34th stock broker to operate under the CSE.

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Union Bank permitted to acquire a stake in the troubled finance firm

Central Bank has granted permission to the Union Bank to acquire a controlling stake of The Finance & Guarantee Limited.
Accordingly, Union Bank of Colombo PLC will be able to invest a sum of Rs. 600 million to acquire a stake in the troubled finance firm.
TF&G was a part of the collapsed Ceylinco Group.

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Softlogic to acquire 73.53% of the issued share capital of Asian Alliance Insurance

Softlogic Holdings and its subsidiary Softlogic Capital Limited have decided to acquire a 73.53% stake out of the entire issued share capital of the Asian Alliance Insurance PLC for a sum of Rs. 3.3 billion.
The Company has already entered into a Share Purchase Agreement with Asia Capital PLC and its subsidiaries and [...]

Colombo Stock Exchange needs to be more transparent to help long-term investors

By: R.M.B. Senanayake

Investors in the stock market generally look at the All Share Price Index to decide the strength of the market. If the Index is positive and its value has increased the investor will conclude that the market is strong. This will lead investors and traders to enter the market either as buyers or [...]

Multi Finance amends debt conversion plan

Multi Finance Limited has scaled down its earlier plan to convert Rs. 185 million of debt into equity it owes to the parent firm Entrust Limited to Rs. 157 million.

In a stock market filing, the company announced that it will now issue 4.4 million shares to the holding company at a conversation price of Rs. [...]

Emerging markets private equity fund plans Sri Lanka investment

Aureos Capital, emerging markets private equity fund manager focused on the SME space, has started raising its second fund which will invest in India and also operate in Sri Lanka and Bangladesh.
Aureos India Fund II is targeting $200 million and will be a successor to Aureos South Asia Fund, which had already raised around $200 [...]

Carsons Group firm takes over 3 plants from a specialty fats manufacturer

Goodhope Asia Holdings Limited of Carson’s group has acquired three of the operating entities of Premium Nutrients Bhd, a specialty fats manufacturer which has operations in Malaysia and India.
Accordingly, the GAHL has taken over 100% stakes of Premium Oils Sdn.Bhd, and Premium Fats Sdn.Bhd, each having manufacturing facilities in Malaysia.
It has also taken over the [...]

Fabric Makers IPO oversubscribed

The Initial Public Offering of the Textured Jersey Lanka Limited has been oversubscribed within the first few hours of its opening which took place this morning.
As a result, the Company has decided to close the subscription list by today 4.30 PM.
Textured Jersey Lanka Limited a specialized fabrics manufacturer is planning to raise Rs. 1.2 billion [...]

Stock market on Wednesday

The Colombo Stock Market closed the day marginally on positive note with ASPI gaining 21.27 points or 0.31% and the MPI also gaining 18.23 points or 0.28%.
There was retail investor interest towards the speculative penny stocks.
However Institutional and High net worth investor interest was towards the selective stocks.
The day saw a net foreign outflow of [...]

LOLC to raise Rs. 1.5 billion by issuing debentures

Lanka Orix Leasing Company PLC is planning to raise Rs. 1.5 billion by issuing listed and unlisted debentures to retire company’s short term debts.
A stock market filing said, LOLC is planning to issue Rs. 1 billion of unsecured listed debentures and a Rs. 500 million worth of unlisted debentures.
The senior, unsecured, redeemable, rated debentures will [...]