The Colombo Stock Exchange (CSE), in a bid to attract foreign investment, is on schedule with the introduction of a top-end, globally-recognised index under the well-known Standard & Poor's (S&P) banner later this month, CSE sources said.
"We are looking at introducing the S&P Sri Lanka 20 Index on June 26," a CSE source told the Business Times. Market analysts said it was likely to contain the top-of-the-range listed companies that would be an automatic draw for foreign investors.
The CSE official said the main reason to introduce a top-20 index with a well-known brand was to give credibility to the index, in particular to large foreign investors. S&P along with the CSE will develop criteria for inclusion in this index.
The existing indices - Milanka and All Share Index will continue to be available.
He also said that the systems at the exchange will be upgraded and modernized within a year. The CSE has hired Mckinsey Consulting to do a study of the capital markets in the country and recommend a way forward and action plan to develop the capital markets. |
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