Capital Alliance Limited lists on the Colombo Stock Exchange
The shares of Capital Alliance Limited (CODE:CALT-N-0000) commenced trading on the Colombo Stock Exchange (CSE) yesterday. The shares have been listed on the DiriSavi Board of the CSE under the “Investment Banking & Brokerage” sector. The occasion was marked with a special Bell Ringing Ceremony
Chairman and Non- Executive Director of Capital Alliance Limited Mr. Dinesh De Zoysa, Chief Executive Officer of CAL Group and Executive Director of Capital Alliance Limited Mr. Ajith Fernando, Non- Executive Director of Capital Alliance Holdings Limited Ms. Shiromal Cooray, Non- Executive Non- Independent Director Mr. Sanjeewa Anthony, Non- Executive Independent Director Ms. Aruni Siriwardene, Chief Risk and Compliance Officer of CAL Group Ms. Sharmali Perera and Managing Director of Capital Alliance Limited Mr. Somadasa Palihawadana joined the event.
The CSE was represented by ChairmanMr. Dumith Fernando, Chief Regulatory Officer Mr. Renuke Wijayawardhaneand Head of Listings Ms. Vinduni Dullewe at the event.
Chairman of the CSE, Mr. Dumith Fernando, speaking at the ceremony, welcomed the company to the CSE. “The core function of our capital market is always to match savings with those who need capital. And with today’s capital raising, we have the 9th equity IPO for the year. We have about five more rushing before the end of this year to list and I’m happy to say we have crossed the 100 billion-rupee mark in terms of capital raising, bothin debt and equity this year.
It is a delight and an honour for us to welcome a firm of the repute and track record of Capital Alliance onto the listed company platform. We are looking forward to a couple more IPOs related to capital markets. But, we hope that you will be a trendsetter here. And I think, proven to us by the eight and a half times subscription of the IPO. But most notably the three and a half times retail over subscription, that there is great interest in this sector in the quality of companies like Capital Alliance.”
Speaking at the event, Chief Executive Officer of CAL Group and Executive Director of Capital Alliance Limited Mr. Ajith Fernando thanked the Central Bank, Board of Directors, clients and the team and added “It’s a very special occasion for us.“Ajourney that started 21 years ago, as a very small company with just three employees to be here today to be a listed entity.”
Addressing the shareholders, he remarked “This was a privately held company and most of the shareholders are also involved in the company. So, it’s a unique opportunity to see the kind of interests that we have attracted from other shareholders, particularly retail.
I think in a way this is the whole purpose of having a stock exchange and having a capital market. It is to allow all types of investors to take part in a business that’s otherwise restricted to institutional and corporate investors only. So, I look forward to working with all our new investors and enhancing their value and enhancing all shareholder value and enhancing our plans going forward. Once again, thank you very much and I look forward to exciting journey ahead as a listed company in the prestigious Colombo Stock Exchange.”
Established in the year 2000, Capital Alliance Limited, fondly known as CALT, began its journey as a Debt Securities Dealer and was appointed as a Primary Dealer by the CBSL in 2003. CALT is one of the 5 non-bank Primary dealers in the country. CALT is a constituent of the larger CAL Group and forms the Securities Trading arm of the Group, dealing predominantly in Government Securities. With over two decades of experience, the Capital Alliance Group has graduated to become a leading Investment Banking group in Sri Lanka. The Group has diversified into asset management, stock brokering, corporate debt and equity advisory, private equity and research services to suit the needs of their wide-ranging clients.