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Sri Lanka and Maldives stock exchanges in deal eying dual listings; cross-border regulation

ECONOMYNEXT – Sri Lanka and the Maldives stocks exchanges have inked a co-operation deal which may lead to dual listings and cross-border regulation, the Colombo Stock Exchange said.

"The Colombo Stock Exchange (CSE) seeks to foster regional linkages with Exchanges in order to foster growth and collective development within our geographic influence," Chief Executive Rajeeva Bandaranaike said in a statement.

"The Maldives is a partner in this process and the CSE has shared cordial and close relations with MSE since its inception in 2002.."

The memorandum of understanding seeks co-operation in marketing of public issues, creating a framework for cross-listings and dual listing of securities and identifying cross-border regulation of companies.

"This MoU will help both our Exchanges to learn from each other’s experiences," Maldives Stock Exchange (MSE) Chief Executive Hassan Manik said.

"In comparison to the CSE the MSE is a very small Exchange, therefore there are many areas in which the CSE can help the MSE to grow and develop."

CSE Chairman Vajira Kulatilaka said the exchange was reaching out of co-operate commercially with regional exchanges to uplift their performance.


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