SBI Japan acquires 20% of Wealth Trust Securities Ltd
View(s):Tokyo-based SBI Holdings Inc has concluded an agreement to acquire 20 per cent of the shares of Wealth Trust Securities Ltd (WTS), and provide investment products, primarily Sri Lankan bonds, through its subsidiary, SBI Securities Co. Ltd to the Japanese market.
WTS is a licensed Sri Lankan primary dealer in government securities appointed by the Central Bank with direct access to both the primary and secondary government securities markets.
Its board of directors comprises Dr. Anura Ekanayake (Chairman), Dammika Ranawana (Managing Director) and Directors Mangala Boyagoda, Senaka Weerasooria and Ruwan Cooray with Viraj Malawana functioning as Consultant International Markets for the company, a media release from the company said.
Romesh Gomez is the company CEO. The SBI Group intends to collaborate with WTS to promote Sri Lankan government securities and corporate debt as high yield investment instruments to Japanese investors through SBI Securities.
“The Sri Lankan bond market is showing aggressive growth from its relatively small scale which makes it a good time for SBI to enter the market. The SBI Group has previously acquired a stake of First Guardian Equities Pvt. Limited of Sri Lanka and is currently promoting equity transactions on the Colombo bourse to its Japanese clients,” the release added.