Euromoney names NDBIB ‘Sri Lanka’s Best Investment Bank 2016’

ECONOMYNEXT – NDB Investment Bank, which in 2015 raised Rs60 billion in debt and equity capital for its clients, has been named ‘Sri Lanka’s Best Investment Bank 2016’ by Euromoney Magazine for the fifth consecutive year.

“Being named as the best five times in a row tells us that we have been doing something more than being market leaders for equity, debt and M&A transactions,” said Darshan Perera, chief executive of NDBIB.

NDBIB, the investment banking subsidiary of NDB Capital Holdings, got a 55 percent share of the debenture market in 2015 and co-managed the largest IPO to take place during the year, a statement said.

The public offer raised Rs750 million, closing on the first day itself with healthy participation from institutional investors while being oversubscribed 6.9 times.

NDBIB also experienced a healthy year in terms of mergers & aquisition activity having advised on two transactions valued at about $33 million.

“The highlight amongst M&A transactions was the joining of forces between two fast growing apparel companies, Hela Clothing and Foundation Garments, where NDBIB was involved right from originating the idea and creating a merger opportunity up to closure of the transaction,” the statement said.

“The idea was originated after having closely studied both parties’ complementary strengths in terms of clientele, markets and product portfolio, and common growth aspirations.”

Euromoney’s Awards for Excellence recognise institutions that demonstrate leadership, innovation and momentum in global financial markets.
(COLOMBO, August 01, 2016)
 

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