CSE reiterates call on companies to maintain public float
CSE CEO Rajeeva Bandaranaike called on listed companies to maintain their public float thus allowing the company to gain liquidity in the marketplace thereby creating value for all shareholders in the entity. Bandaranaike noted that the marketplace created price discovery and value for all listed entities.
Bandaranaike was speaking at the bell-ringing ceremony held on November 10 to mark the first trading day of Ex-Pack PLC. He noted that the Ex-Pack IPO was oversubscribed by over 11 times on the opening day. He said, “This speaks to the trust and confidence it enjoys among its stakeholder group.”
The Ex-Pack listing marks the 6th equity listing and 34th issue for the 2021. With generous tax incentives and business-friendly policies, the capital markets have shown considerable growth over the recent period. The CSE has been able to raise over Rs 105 billion worth of equity and debt in the current year. All listings have been successful.
Bandaranaike noted the role of capital markets in channelling funds efficiently towards economic activity. He noted that investors also benefit from decent returns. Bandaranaike hailed Ex-Pack as an entity and noted that the company should go on to uphold the highest levels of corporate governance. He added that suppliers and consumers alike benefitted from the existence of the entity.