New World Securities (NWS) is scouting for new investors to settle its debts, according to stockbroking circles. The company owned 80 per cent by Japanese investors and lead by Japan’s a2Media Corporation with prominent investor Takashi Igarashi as its Chairman, has Sri Lankan investors holding some 15 per cent. “All stockbroking houses including NWS are [...]

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The Sundaytimes Sri Lanka

Disappointed foreign broker looks for strategic investor

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New World Securities (NWS) is scouting for new investors to settle its debts, according to stockbroking circles.
The company owned 80 per cent by Japanese investors and lead by Japan’s a2Media Corporation with prominent investor Takashi Igarashi as its Chairman, has Sri Lankan investors holding some 15 per cent.

“All stockbroking houses including NWS are losing a lot of money, owing to the bad shape that the share market is in right now. The Japanese want to sell out or sell part their stake to an investor,” a source said. He said that many stockbroking houses are hit badly and some are also following the same route of trying to sell out or sell part stake.




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