MBSL reactivates bourse with listing after hiatus of 15 months

On June 3, 2019, the shares of Mahaweli Coconut Plantations Limited (MCPL) commenced trading on the Colombo Stock Exchange (CSE).

MCPL is the first company to be listed on the CSE after a lapse of 15 months.

MCPL was listed on the CSE through an Introduction, which was managed by Merchant Bank of Sri Lanka & Finance PLC (MBSL).

Subsequent to the listing the share price of MCPL was increased by 11 percent on the first day of trading on the CSE. The shares of MCPL traded at a price of Rs.65 on June 7, 2019.

MCPL is the first coconut plantation company to be listed on the CSE. MCPL Managing Director Felix Fernandopulle speaking at the ceremony stated that the company has had a consistent growth trajectory since inception, where Mahaweli Coconut Plantations, even in the recent past, has outperformed the national average of the number of coconuts produced per hectare.

MBSL DGM Legal/company Secretary and Corporate Advisory and Capital Markets Division Head Karnika Jayatilake, Chief Manager Lalangi Goonewardena, Acting Manager Dishan Vitharanage and Deputy Manager S. Karthigan participated in the Listing ceremony held at the CSE, on June 3, 2019.

MBSL, which was established in 1982, is a subsidiary of Bank of Ceylon and the pioneer Merchant Banking Institution in Sri Lanka. The team of MBSL Corporate Advisory and Capital Markets division includes expertise driven from professional experience in the industry.

MBSL has successfully completed many Initial Public Offerings to date and has given good returns to all types of investors, let it be the corporate clients, individuals or even traders.