CAL facilitates first cross-border share transaction by Sri Lankan stockbroker

Tuesday, 18 September 2018 00:00 - - {{hitsCtrl.values.hits}}

Capital Alliance (CAL), recently performed Sri Lanka’s first ever transaction of overseas stocks, marking a milestone in the annals of the nation’s corporate history.

Previously, Sri Lankan investors were confined to investing in the Colombo Stock Exchange (CSE). However, following the liberalisation of Sri Lanka’s exchange control regulations in November 2017, individuals and organisations domiciled in Sri Lanka are now permitted to invest in listed securities overseas. As per the revised law, a listed company can invest up to $ 2 million per year; whereas an un-listed company can invest up to $ 500,000 a year and an individual may invest $ 200,000 in their lifetime.

Commenting on the historic milestone, CAL Securities CEO Harinlal Aturupane said, “CAL has supported investors on the CSE for many years, but the liberalisation of foreign exchange laws has really broadened the investment universe for Sri Lankans. Our first international investment was on the Dhaka Stock Exchange in Bangladesh. The country is considered one of the fastest growing economies in the region and is currently a hotspot for investment. We are all set to open seamless opportunities for our local investors and support them to make strategic investments in stock markets across the world.”

Capital Alliance (CAL) is Sri Lanka’s leading full service investment bank, and its subsidiary CAL Securities has established itself as a premier stockbroker on the Colombo Stock Exchange over the past two decades. The recent foreign exchange liberalisation, coupled with CAL’s deep expertise in financial investments and fund management, means that the organisation is now fully equipped to support investors in Sri Lanka who wish to make foreign investments.

“I am pleased to be the first Sri Lankan to perform an overseas stock transaction through CAL. The investment opportunities around the world are tremendous, and Sri Lankans like myself can finally make use of them. I appreciate the seamless manner in which CAL handled this transaction, and I’m excited about the future,” commented the client who performed this historic transaction.

CAL partnered with Lanka Bangla Securities, a licensed stockbroker on the Dhaka Stock Exchange in Bangladesh to conclude this investment.