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

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.
 

Latest Comments

Your email address will not be published. Required fields are marked *