The Colombo Stock Exchange (CSE) has amended the Listing Rules to facilitate the listing of the shares by foreign companies on the Multi Currency Board (MCB) of the CSE, under the Alternate Market Segment.
In this regard, the CSE has also amended the ATS Rules and the CDS Rules to facilitate the MCB.
As per the amended Listing Rules, a foreign entity may list its shares denominated in a currency approved by the Central Bank on the MCB of the CSE. Investing and trading in such shares will be permitted only to non-resident investors who operate through a Custodian Bank of the CDS.
A foreign entity referred to herein is defined as: a body duly incorporated or established outside Sri Lanka, which has its shares listed in a stock exchange of the country of its incorporation and seeking a secondary listing of its shares on the Multi Currency Board of the Exchange.”