ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange has called for public consultations on planned revisions to listing rules.
CSE said it wanted to revise timelines and as well as eligibility criteria.
It is proposed that firms that are eligible to list on the main board should have revenues of 3.0 billion rupees and market capitalization of 5.0 billion rupees, three years of profits, and two years of positive net assets.
There should be no emphasis of matter on going concern in the auditor’s report.
For the Dirisavi Board, firms should have revenues of 350 million rupees and market capitalization of billion rupees.
Share allocation is also to be revised.
The share price can be decided 7 days before opening of the subscription list, instead of the current process of submitting the price at the time of getting listing approval.
In Sri Lanka prices of both the main board stocks and second board stock are including in the main index.
Public can submit proposals to email@example.com or write to the chief executive. (Colombo/Sep02/2019