ECONOMYNEXT – Shares of Sri Lanka’s Cable Solutions Limited (CODE: CSLK-N-0000) began trading on the Colombo Stock Exchange on Wednesday.
The company’s initial public offering for over 80 million ordinary voting shares for sale at 7.50 rupees a share, was oversubscribed on the opening day.
The shares have been listed on the Diri Savi Board of the CSE. The occasion was marked with a special Bell Ringing Ceremony.
The event was attended by Cable Solutions Limited, Tempest PE Partners and CSE officials.
“The compliance and regulatory framework you now enter will further strengthen your company’s standing, leading to significant long-term benefits,” CSE CEO Rajeeva Bandaranaike said.
“I believe export growth is inseparably connected with investor confidence, and with strong investor support, I am
optimistic about our continued growth,” Cable Solutions Managing Director Pawan Tejwani said.
Established in 2008, Cable Solutions manufactures and exports cables to 13 countries. Cable Solutions’ market reach includes major economies such as the USA, Spain, India, Sweden, and Austria.
The company customizes cables for renewable energy, telecommunications, robotics, and aerospace industries, it said.
The share closed up at 7.70 on Thursday. (Colombo/Aug15/2024)