Entrust Securities first licensed non-bank primary dealer to get listed on CSE

Thursday, 24 November 2011 00:00 - - {{hitsCtrl.values.hits}}

Making a debutant entrant to the equity market Entrust Securities Limited (ESL) a licensed Primary Dealer (PD) appointed by the Central Bank of Sri Lanka(CBSL) to exclusively deal in Government Securities such as Treasury bills and bonds, will become the first ever local Non Bank Primary Dealer entity to be listed on the Colombo Stock Exchange.

The company which has been an active Primary Dealer for the past eleven years creates history in the local debt market by being the first regulated Non Banking entity under the Public Debt Department of CBSL that would get listed on the Colombo bourse, in few days time. Commenting on this distinctive accomplishment, Mr A H M Riyaz Group Executive Director/ CEO of Entrust Securities said “it’s another feather in our cap of achievements, especially for a Primary Dealer entity that has also been a catalyst in the development of the local debt market by popularising investments in Governemnt Securities”. The company has already obtained formal regulatory approval from CSE for the listing of 33,000,014 Ordinary Voting shares by way of Introduction on the Diri Savi Board and trading of shares would commence shortly.

As one of the pioneering licensed Primary Dealers in Sri Lanka, Entrust Securities Limited has been servicing an extended clientele ranging from Government entities, Co-operative societies, captive sources, Fund Managers, listed and unlisted Corporates, High Net Worth individuals etc. with the intention of actively promoting investments and trading opportunities in Treasury bills and bonds. The company was one of the few PDs that worked hand in hand with Senior Officials of Central Bank, Public Debt Department to promote and create awareness of Government Securities amongst the local community by conducting “Investor Awareness” seminars in selected towns, out of Colombo. A subsidiary of Entrust Limited, the company’s financial performance over the past years has indicated a gradual growth and its prudent decision making and risk mitigation strategies have stood in good stead, amidst external financial shocks experienced in the recent past.

A recent communiqué issued by the company also announced the reconstitution of its Board of Directors and eminent personalities and professionals in the corporate arena are on board in the capacity of Independent Non Executive Directors, adding muscle to its present directorate.

Nihal Rangala has been appointed as the Chairman whilst Nalin Jayasuriya, Harsha N De Silva, Kishantha Nanayakkara have been appointed as Independent Non Executive Directors strengthening the present board members comprising of A H M Riyaz, Group Executive Director/ CEO, Mrs Lakmali Wickremasooriya – Director, Finance and Mrs Romesha Senerath, Director, Operations.