The Colombo Stock Exchange has amended the Listing Rules to facilitate the secondary listings of foreign firms through the Multi Currency Board (MCB).
The CSE has also amended the Automated Trading Rules as well as the Central Depository System (CDS) Rules to facilitate
the MCB. As per the amended Listing Rules, which are set under Section 10 of the CSE Listing Rules, a foreign entity may list its shares denominated in a currency approved by the Central Bank of Sri Lanka, on the MCB of the CSE.
A foreign entity seeking a secondary listing on the MCB should be listed in the country of its incorporation and the regulator of capital markets of that country should be an ordinary member of the International Organisation of Securities Commissions.
Also, it should have capital equivalent to an amount of no less than US $ 10 million, converted at the exchange rate prevailing at the date of submission of the listing application. Investing and trading in shares listed on the MCB will only be permitted to non-resident investors, who operate through a custodian bank of CDS.
Add commentComments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Uber Eats, announced a comprehensive insurance programme for delivery partners in Sri Lanka. Launche
The British Council of Sri Lanka announced this week that it continues to strengthen its longstandin
OPPOSri Lanka celebrated this Valentine’s Day with an exciting promotion on Social media where