The London Stock Exchange Group (LSE) is willing to help Sri Lankan firms raise capital in London. “Local firms in the present market context need to look at ways of raising capital as they possess immense potential to market themselves to the rest of the world. We can help local firms raise financial capital in this regard,” Xavier Rolet, CEO LSE Group told the Sunday Times FT.
He said the present environment presents immense opportunities to Sri Lanka as the country has just closed a ‘very difficult page’ (referring to the cessation of hostilities). “LSE is the number one franchise to raise primary and secondary capital (during the past year). We like to help the Colombo Stock Exchange (CSE) promote Sri Lankan firms in London, now that we are sharing the same IT platform,” he said.
Mr. Rolet was speaking on the sidelines of an event where the Securities and Exchange Commission signed an agreement with LSE -owned MillenieumIT on Tuesday to set up a new electronic surveillance system to track market manipulation and insider deals. Hesaid LSE has raised US$160 billion during the last 12 months, much more than what was raised by the next largest four exchanges put together (New York Stock Exchange, Tokyo Stock Exchange, Hong Kong Stock Exchange and Bombay Stock Exchange).
Mr. Rolet noted that Sri Lankan firms need to develop liquidity. “We have discussed with the CSE about developing liquidity in this market,” he said. He said one of the things that was discussed was how Sri Lankan firms can benefit by listing in the Alternative Investment Market (AIM), which is the largest junior market in the world operated by the LSE. |
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