Sri Lankan Government Entities To Offer IPOs Soon.

In Colombo Stock Exchange on October 18, 2010 at 5:32 am

The state owned companies are looking to offer IPO and of course we are to take an interest in what is already ours! at least good folks like us who pay our taxes :).

The companies seeking to offer public shares include SriLankan Airlines Catering, Shell Gas, Ceylon Petroleum Corporation (CPC), Ceylon Electricity Board (CEB), SriLankan Airlines, ITN and Sri Lanka Insurance Corporation (SLIC).

SriLankan Airlines Catering and Shell Gas will start the trend,( I think it will be an upward one! ) and the rest of the companies will follow the suit. The word on the street is that most of these institutions are debt ridden and need some kind of lifting to stay afloat or march forward to make profits. Government is seeking to do just that with offering up to 20% shares in the Colombo Stock Exchange. Yes I am looking forward to have a piece of this pie.

“The time is right (to list) and all indicators are pointing favourably at listing. The concept of the government at present is to ‘give to the people’ so that they will have a say,” Media Minister Keheliya Rambukwella told the Business Times confirming that the government is favourably looking at selling stakes in these institutions. Minister Rambukwella added that the government is constantly realigning its strategy and will infuse private sector participation while keeping the people’s interest at heart when going for Initial Public Offerings.

Read more on the subject at Business Times Article.

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