The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) recently launched “Empower”, a listing platform fostering capital raising and growth opportunities for Sri Lankan Small and Medium Enterprises (SMEs).
SMEs around the country now have at their disposal a range of new capital raising methods, and entities listing on this platform will be offered guidance during the listing process by both the CSE and an independent sponsor.
SMEs listing on the Empower Board are therefore required to submit such applications through an independent sponsor registered with the CSE, a party defined as a company or individual with experience in investment banking or corporate finance and in handling listing applications for issuers in the past. Specifically, sponsors will be required to hold, at minimum, five years of experience in the field of investment banking or corporate finance, out of which three years of experience is required to be in handling listing applications of issuers.
Sponsors are set to be pivotal to obtaining a listing on the Empower Board in terms of offering SMEs direction and the CSE is presently in the process of evaluating potential sponsors to be registered and endorsed by the exchange to facilitate listings on the Empower Board.
A briefing event for potential Empower Board sponsors will be held on Wednesday from 2.30 p.m. onwards at the CSE Auditorium, where participants will be offered a comprehensive perspective on the requirements to be a sponsor and the registration process. The CSE invites individuals and companies interested in pursuing a registration as a sponsor for the Empower Board to participate at the event.
Further details on the event and registration could be obtained by contacting Lasitha Wijayagunawardane on 011 2356515, or Nilma Samarasinghe on 011 2356559. Prior registration is required for participation.