Taprobane Holdings Ltd has been granted approval-in-principle by the Colombo Stock Exchange to list 732.9 million ordinary voting shares by way of a share Introduction on the CSE’s Diri Savi Board.
The shares will be granted a listing on or before the third market day after the completion of due-process by the company.
The Securities and Exchange Commission did away with the process of listing by way of Introduction last month, after criticism over the performance of the share prices of many companies which had since listed by way of introduction.
Restriction by the SEC came into force from the 1st of this month. However, applications for listing by way of Introduction received or approved on or before March 31 were allowed to go through.