CSE-SEC reaches out to IT-BPO and knowledge services industry

Friday, 28 February 2014 00:00 -     - {{hitsCtrl.values.hits}}

The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission (SEC), in association with the Sri Lanka Association of Software and Service Companies (SLASSCOM), is scheduled to host a forum to educate the IT-BPO and knowledge services industry on the importance of going public. The forum is another step to attract companies that are of high value and worth to the capital market, in order for them to enter into a mutually-beneficial partnership of wealth creation and value addition with the public. The potential-issuer relations forum will be held on 5 March at the Dialog Future World Auditorium, from 8:30 a.m. to 11 a.m. The program will commence with an introduction to the benefits of listing by CSE CEO Rajeeva Bandaranaike, followed by a presentation on ‘Valuing your Company’ by Vice-President of Copal Amba (a Moody’s subsidiary) Asanka Herath. SLASSCOM Chairman Madu Ratnayake will also speak at the event. The chief executive officers and chief financial officers of potential-issuer companies, from the target industry will be given an opportunity to pose their questions to a panel of distinguished personnel from the capital market. The panel will comprise CSE Director Ray Abeywardena, CSE AGM – Regulatory Affairs Renuke Wijayawardhane and SEC Deputy Director General and Officer-in-Charge Dhammika Perera and will be moderated by SLASSCOM Executive Director Imran Furkan. The forum is further seen as an ideal opportunity for the decision makers of these entrepreneurial endeavours to mingle and network with the senior management representatives of investment banks, to build mutually-beneficial relationships for the future. “The Sri Lankan IT/BPM industry is on a rapid growth trajectory and gaining increasing attention globally. We anticipate a growth of over 23% YoY this year at industry level, therefore many of the SLASSCOM companies are now gearing for their next phase of growth. Listing on the stock market would create avenues for companies to raise funds for this growth acceleration and will provide the general public an opportunity to participate in this very exciting growth phase of the industry, as investors. We are delighted to work with SEC and CSE to help companies understand the journey of raising funds from the capital market,” Ratnayake said. “The Sri Lankan capital market is a vibrant atmosphere where long established, as well as entrepreneurial businesses can thrive by raising capital and maintaining a high standard of accountability to their stakeholders. By entering this affirmative environment, members of the knowledge services industry in Sri Lanka can benefit a great deal,” Perera said. “Listing on the stock exchange helps a company enhance its corporate profile and gives it a competitive advantage, while helping the company increase its worth by attracting strategic investors and high value employees. These benefits boost the prestige of a company and can thereby be utilised to fund the next stage of a company’s expansion strategy,” Bandaranaike said.