Listed firms asked to submit public float details

Friday, 21 March 2014 04:39 - - {{hitsCtrl.values.hits}}

The Colombo Stock Exchange (CSE) has asked all listed companies to submit a report on the current distribution of shares as at 1 January on or before 31 March, to the CSE and SEC. This is following the Securities and Exchange Commission (SEC) directive dated 20 December 2013 regarding the rules on minimum public float as a continuous listing requirement. CSE also said that pursuant to the directive, the SEC has revealed that a certain percentage of the shares of all listed companies should be held by the ‘Public’ on a continuous basis. CSE has also suggested the reporting format for listed firms. Information has to be certified by a director and company secretary/director.

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