CSE, USAID Forum provides insights for SMEs
The Colombo Stock Exchange (CSE) conducted an Issuer Relations Forum titled ‘Unlocking funding opportunities for SMEs through the Colombo Stock Exchange’, in association with the U.S. Agency for International Development (USAID) in Sri Lanka on August 15, at the Mövenpick Hotel Colombo.
The forum provided insights for small and medium-sized enterprises in key sectors, such as Agribusiness and Information, Communication and Technology (ICT), to discover capital-raising opportunities available at the CSE via listing on the Empower and Dirisavi Boards of the Exchange.
The forum was attended by the USAID Economic Growth Advisor, Mark Peters, USAID CATALYZE PSD Activity Team Lead Juan Forero, CSE Chief Executive Officer (CEO) Rajeeva Bandaranaike, Chief Regulatory Officer (CRO) Renuke Wijayawardhane, Senior Vice President, Commercial Punyamali Saparamadu, Atarah Capital (Pvt) Limited Managing Director Rohan Senewiratne, Acuity Partners (Pvt) Ltd Senior Vice President – Corporate Finance, Amani Ranaweera and representatives from investment banks, SMEs interested in raising capital, USAID, and CSE.
USAID Economic Growth Advisor, Mark Peters said; “Sri Lanka’s sustainable development and recovery hinge on bolstering capital markets while creating additional funding avenues for SMEs across the nation. USAID is working with MSMEs to improve their ability to attract private capital. Through enrollment in the MSME Funding Readiness Programme, businesses can unlock fresh pathways for growth, capitalize on capital market opportunities, and contribute to the nation’s economic prosperity.”
CSE CEO Rajeeva Bandaranaike stated; “We are pleased to have received a positive response for this initiative today. Over the years we have seen numerous companies listing on the Colombo Stock Exchange, with both the company and its shareholders benefitting in the process.”
Acuity Partners (Pvt) Ltd Senior Vice President Corporate Finance, Amani Ranaweera said; “We are seeing tangible signs of an economic revival. After several challenging years, now is the time for SMEs to put the appropriate framework and processes in place to take advantage of capital raising opportunities.” Speaking at the forum, under the subject of “Listing on the CSE as a Game Changer” Rohan Senewiratne, Managing Director of Atarah Capital (Pvt) Limited stated; “SMEs comprise more than 75% of enterprises, account for more than 20% of Sri Lankan exports, 45% of employment and 52% of the GDP.” Further, an insightful panel discussion was held on the subject of “Journey towards listing and life after listing” with the participation of CSE CRO Renuke Wijewardhane, USAID CATALYZE PSD Activity Team Lead Juan Forero, NDB Investment Banking Ltd Senior Vice President Saminda Weerasinghe CFA, Capital Alliance Partners Limited CEO Nishok Goonasekera, Prime Lands Residencies PLC Co- Chairman Premalal Brahamanage, Luminex CEO Palitha Herath with the Senior Vice President, Commercial Punyamali Saparamadu as the moderator.
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