Japan’s SBI to buy 25-pct of Sri Lanka stockbroker

ECONOMYNEXT – Japan-based SBI group has inked a deal to buy a 25 percent stake in First Guardian Equities, a stockbroker licensed to deal in the Colombo Stock Exchange.

The SBI Group will have two representatives on its board, following regulatory approvals, First Guardian Equities said.

SBI Holdings Chief Executive Yoshitaka Kitao and Managing Director of First Guardian Equities (Pvt) Ltd Rohan Goonewardene inked the deal.

SBI Group has assets of 400 billion yen and has six publicly traded companies. (Colombo/Aug05/2016)

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