Sri Lanka’s SEC approves new listing board and rules for SOEs

Sri Lanka’s capital market regulator has approved the creation of a separate listing board and listing rules at the Colombo Stock Exchange (CSE) for state-owned enterprises’ (SOEs) expected entry into the bourse.

The salient features of the rules applicable to the new Board include a stated capital of not less that 250 million rupees revenue, net asset and market capitalization tests, minimum 3 years operating history, time–bound requirements for financial reporting, and a minimum 10 percent public float with 300 public shareholder requirement.

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