3 Maldivian firms to list on US$ denominated board
View(s):The Colombo Stock Exchange (CSE), says at least three Maldivian firms are discussing plans to list on the exchange’s to-be-launched-soon board for dollar denominated securities. ”We obtained (exchange control) approval to list foreign companies in the CSE and now we’re discussing (prospects) with three firms in Male,” Vajira Kulatilleke, Chairman CSE told the Business Times on the sidelines of a discussion on ‘Minimum Public Float: An Open Discussion’ on Wednesday. He said that they are canvassing for foreign firms to trade and that this board is restricted to foreigners.
CSE sources said that some large Maldivian hoteliers are interested in going public on this board and also an industrial firm is in discussions.
Mr. Kulatilleke said that CSE has entered into a Memorandum of Understanding (MoU) with the Maldives Stock Exchange to introduce dollar denominated securities (in Male) and a CSE team trained their Maldivian counterparts recently on (Maldivian firms) going public on CSE along with different aspects on clearing, trading and settlement, he said. “The MoU facilitated this.” He said that some firms in the Maldives are also interested in listing debt. -(DEC)