Sri Lanka cabinet approves changes to draft law to de-mutualize CSE

ECONOMYNEXT – Sri Lanka’s cabinet of ministers had approved changes to a draft law to de-mutualize the Colombo Stock Exchange, the information office said.

Sri Lanka’s Colombo Stock Exchange is an entity limited by guarantee, owned by so-called ‘full-member’ brokers.

The cabinet of ministers had approved the changes proposed by Finance Minister Mangala Samaraweera.

Demutualization will see it become a limited liability company with multiple shareholders. (Colombo/Apr14/2019-SB)