LKCSE Colombo Stock Exchange Open
  • Current Exchange
    Colombo Stock Exchange LKCSE

Market time

Send This Page To Friends and Colleagues

You can Enter more than one email separated by (,)
Allowed 100 characters only
20 May, 2013 10:01 AM Source: Financial Times - Sri Lanka
CSE (3) Stock.jpg

Boosted by a specific 2013 Budget move, the country’s listed debt market is set for a record year in 2013, judging by value of issues already completed and those in the pipeline.

The year so far has seen four firms raising Rs. 10.5 billion, whilst issues worth a further near Rs. 15 billion are in the offing.The best year for the listed corporate debt market was in 2010 with Rs. 15 billion raised and if most of the planned ones come through, 2013 will be a record high. As per value of issues done and slated, the figure stands at Rs. 25 billion.

Analysts linked the resurgence in listed debt market to the Government’s 2013 Budget exempting income tax on the interest income of corporate debt securities. This was to fast-track the development of the corporate debt market.

In the first quarter four issuers raised Rs. 10.5 billion, with People’s Leasing and Finance Plc coming with a mega issue of Rs. 6 billion. Others were Seylan Bank and Merchant Bank of Sri Lanka (Rs. 2 billion each) and Commercial Credit and Finance Plc (Rs. 500 million).

Two issues from Singer (Sri Lanka), a regular issuer, and Senkadagala Finance Plc will have their official opening tomorrow (21 May).

Singer (Sri Lanka) will raise Rs. 1.5 billion via an issuance of 10 million rated, unsecured, redeemable debentures at an issue price of Rs. 100 each with an option to issue up to a further five million debentures in the event the initial 10 million are oversubscribed.

Fitch Ratings has assigned Singer’s latest debentures ‘A’ rating. More...

Read Original Article

Add Comment | 0   comment

Readers Comment

Nothing found to display
page number 1

Add Comment

Please login first to comment Click here to login

Stocks in Focus

Features for Registered Users

E-mail Alerts
Daily Newsletter
Your Watchlist
Advanced Tools
Many more

Will automatically display the last quotes you have visited here.

All Rights Reserved - DUInvest © 2014


Do You have an Account ? , Click here to create a new account

Your Opinion Matters

What do you think about the new Website?