Monday August 20, 2018

Japan's SBI Holdings buys into Sri Lanka's Wealth Trust Securities

Sep 22, 2017 05:23 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - SBI Holdings, a Japan based investment group said it is buying a 20 percent state in Sri Lanka's Wealth Trust Securities (WTS), a licensed primary dealer in government bonds.

"The SBI Group is planning to distribute bonds, such as Sri Lanka n   government bonds  and corporate bonds,  as high- yield  bond  products ,   toward Japanese individual  investors  through  SBI  SECURITIES ,  by  purchasing  those products in collaboration with WTS," the firm said in a Tokyo stock exchange filing.

Wealth Trust ranks amongst the top five primary dealers  in  Sri  Lanka and has a broad customer network, the statement said.

SBI said it already had an investment in First Guardian Equities (Pvt) Ltd in Sri Lanka, which is a share broking firm.

"…[B]y investing in WTS, the SBI Group will be able to access  to both the equity  and bond markets of Sri Lanka, " the firm said.

Sri Lanka's bond markets are expected to grow fast as the sector is comparatively small SBI said.


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