First Capital Treasuries lists on Colombo Stock Exchange

Friday, 24 December 2021 02:38 - - {{hitsCtrl.values.hits}}

CSE CEO Rajeeva Bandaranaike, CSE Director and First Capital Treasuries Director/CEO Dilshan Wirasekara, Managing Director Dinesh Schaffter, Chairman Nishan Fernando, Director Minette Perera, Director Chandan de Silva, CSE Chief Regulatory Officer Renuke Wijayawardhane and Head of Listings Vinduni Dullewe

First Capital Treasuries Chairman Nishan Fernando

CSE Chief Executive Officer Rajeeva Bandaranaike

The shares of First Capital Treasuries PLC (CODE: FCT-N-0000) commenced trading on the Colombo Stock Exchange (CSE) yesterday.

FCT share priced gained by 3% or Rs. 1.10 to close at Rs. 40.10 from its IPO price of Rs. 39. Over 3.4 million shares changed hands via 1,800 trades for Rs. 141.6 million.

The shares have been listed on the Diri Savi Board of the CSE under the ‘Investment Banking and Brokerage’ sector. The occasion was marked with a special bell ringing ceremony.

Representing First Capital Treasuries PLC Chairman Nishan Fernando, Managing Director Dinesh Schaffter, Director/CEO Dilshan Wirasekara and Directors Minette Perera and Chandan de Silva joined the event.

The CSE was represented by Chief Executive Officer Rajeeva Bandaranaike, Chief Regulatory Officer Renuke Wijayawardhane and Head of Listings Vinduni Dullewe at the event.

CSE CEO Bandaranaike, speaking at the ceremony, congratulated First Capital Treasuries PLC on its initiative to go public. “With the history of nearly 40 years First Capital Treasuries has functioned as a pioneer licensed primary dealer appointed by the central bank to deal in government securities and we are happy to see that First Capital Treasuries is now opening its doors to the public, to join their journey of wealth creation.”

Commenting on the performance at the CSE, Bandaranaike said: “As we conclude 2021. We are delighted to note, that the CSE has showcased a strong growth trajectory, both in terms of capital raising, as well as price growth and being of immense value to Sri Lankan corporates. As you know Sri Lankan companies are increasingly recognising the stock exchange as a platform to achieve greater financial freedom, improved access to capital, enhanced global profile, access to liquidity, and also an attractive proposition to tap into the global capital pool.”

First Capital Treasuries PLC Chairman Nishan Fernando, thanked the CSE, the investor community, staff members of First Capital Treasuries PLC and the media for the support extended during the IPO. Speaking on the listing experience he added: “Taking the company public has been part of our strategic plan for some time now. Listing and trading shares publicly gives a boost to both the brand equity and the trustworthiness of any company. It also gives the company the opportunity to truly understand its perceived value in the market. Then, there are the tax exemptions being offered by the Government. Taking all these benefits into consideration, we felt that the time was right for us to invite the general public to be a part of First Capital Treasuries' growth story.”

Commenting on the performance of the CSE, Fernando added: “I commend the CSE for their outstanding work over the last couple of years and look forward to seeing them do more to encourage other companies to list. The market has seen a good number of listings take place this year. I believe this will continue.”

First Capital Treasuries PLC is a subsidiary of the Janashakthi Group’s First Capital Holdings PLC.