Luminex Ltd seeks listing on the CSE

Luminex Ltd, a multifaceted engineering company with 35 years of operations, has plans to be listed on the Colombo Stock Exchange, subject to regulatory approvals. Navara Capital Ltd has been appointed as the Financial Advisors and Managers to the issue, the company said in a statement on Wednesday.

Established in 1986, the company has an annual turnover of Rs.2.5 billion and aims to scale up and consolidate local operation with plans to extend its footprint to West Asiat in the near future. The funding from the IPO is expected to fuel the company’s growth trajectory in the medium term.

Luminex Ltd has completed over 850 projects during the past 10 years and its presence in the Sri Lanka's telecommunication infrastructure sphere has enabled the company to serve market leaders in their respective fields. They are also in the forefront of fibre network development projects for Sri Lanka’s two leading telecom service providers and a civil engineering service provider for the National Water Supply & Drainage Board. The Company’s operations are backed by a 550-strong technical workforce across eight operations centres and 29 project offices.

Three new Non-Executive Directors have been appointed to the Board recently. Dr. Harsha de Silva - Chairman/Non-Executive Director, counts over 25 years senior and strategic management experience in the corporate sphere locally and internationally; Asoka Hettigoda - Independent Non-Executive Director counts for over 25 years of experience in strategic management and is the Managing Director of the Siddhalepa Group while  Lionel Imbulana -  Independent Non-Executive Director is a Chartered Engineer with a wide range of experience in serving Sri Lanka Telecom for more than 35 years.