The shares of Cable Solutions Limited (CODE: CSLK-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on August 14, 2024 with there shares being listed and the occasion was marked with a special Bell Ringing Ceremony.
The company’s Initial Public Offering (IPO) for over 80 million ordinary voting shares for sale at Rs. 7.50 per share, was notably oversubscribed on the opening day itself.
Delivering the opening speech Rajeeva Bandaranaike said, “With an oversubscribed IPO on its opening day, Cable Solutions now becomes a PLC. This milestone will elevate your corporate status and enhance relationships with your customers, suppliers, bankers, and investors. Listing brings greater visibility and brand recognition for the company and over time creates wealth for your shareholders. The compliance and regulatory framework you now enter will further strengthen your company’s standing, leading to significant long-term benefits.”
Established in 2008, Cable Solutions has excelled in the cable manufacturing industry, exporting to 13 countries and generating 94% of its revenue from exports. Cable Solutions’ market reach includes major economies such as the USA, Spain, India, Sweden, and Austria.
Suren Madanayake, Chairman, Cable Solutions Limited (CSL); Pawan Tejwani, Managing Director, CSL, Mahesh Amarasiri, Director, CSL; Daya Wahalatantri, Director, CSL; Ranila Wijesundara, Head of Operations, Tempest PE Partners; Sajana Gunewardhana, Assistant Manager, Tempest PE Partners; Dumith Fernando, Chairman, Asia Securities; Udesh Rajeendra, Vice President Investment Banking, Asia Securities Limited (ASL) ; Pavani Hindurangalage, Analyst, ASL; including guests from CSL, ASL and Tempest PE Partners. The CSE was represented at the event by its CEO, Rajeeva Bandaranaike; CRO, Renuke Wijayawardhane and the CSE Senior Management at the Bell ringing event.
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