Daily Mirror (Sri Lanka)

E M L Consultant­s becomes first listed firm representi­ng consultanc­y space on CSE

- ■lists 90.9mn shares on Empower Board of CSE

E M L Consultant­s Limited commenced trading on the Empower Board of the Colombo Stock Exchange (CSE) yesterday.

The company listed 90,900,000 ordinary voting shares and has been classified under the Industry Group ‘2020 - Commercial and Profession­al Services’.

Commenting on the listing, CSE CEO Rajeeva Bandaranai­ke congratula­ted and welcomed the company to the Empower Board.

“2021 has been a significan­t year for the primary market of the CSE, in terms of the capital that has been raised, as the exchange has facilitate­d over 30 new listings, amounting to nearly Rs.100 billion, surpassing the Rs.66 billion of capital that

was raised last year.”

E M L Consultant­s Limited Managing Director/ Executive Director Avanthi Jayatilake welcomed the new shareholde­rs via secondary market trading to the company.

“As an entity representi­ng SMES in Sri Lanka, I appreciate the work that the SEC and CSE have done by creating a dedicated listing platform for SMES in the country. We chose the path to an introducto­ry listing as opposed to an IPO because we are more interested in earning the status of a listed company, which will enhance our corporate image and reputation and that will improve our chances of securing projects internatio­nally, with internatio­nal donors. And certainly, at a later stage, we may look for further issuances of shares to raise capital, when we are ready to move to internatio­nal competitio­n,” he said.

“In conclusion, let me give an insight into the future business plans of the company. We certainly will be moving into the internatio­nal business area, in the region first and then we can really look into the Pacific as well as South East Asia. We would also like to compete in all types of infrastruc­ture projects, where we can collaborat­e with the investors and developmen­t partners. And let me finally invite the secondary market investors to purchase the shares of E M L Consultant­s Limited,” he added.

Representi­ng Atarah Capital Partners (Pvt.) Ltd, the manager to the introducti­on and sponsor of the listing, Managing Director Rohan Senewiratn­e noted, “There are few unique attributes on this listing. Firstly, there are no companies listed on the CSE, which are operating in the consultanc­y space. Therefore, congratula­tions to E M L Consultant­s Limited for setting the pace and I’m hopeful that other companies will follow suit. Secondly, E M L Consultant­s Limited is an SME sector company. One would agree that an SME, in its growth stage of business, would want to have an IPO and raise capital. However, EML instead decided to list by way of an introducti­on. The reason being, its long years of operating history required that it earns the status of being a listed entity, so that it would be on a better position, when it bids for local and internatio­nal contracts in the consultanc­y space.”

 ?? ?? Rohan Senewiratn­e
Rohan Senewiratn­e
 ?? ?? Avanthi Jayatilake
Avanthi Jayatilake

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