The shares of Myland Developments Limited commenced trading on the Colombo Stock Exchange (CSE) yesterday. The shares have been listed on the Diri Savi Board of the CSE under the “Real Estate Development” sector. The occasion was marked with a special Bell Ringing Ceremony.
Speaking at the event, Chairman/Independent/Non-Executive Director of Myland Developments Limited, W D Premachandra, commented, “Even though Myland Developments has a shorter history, we have many success stories to share. Among those, we consider this IPO and the listing the most valuable event in our short history we have achieved. This is all because we wanted to become a responsible corporate citizen. When we list the company, we know that regulators will be vigilant about the things that we do. More importantly, the investors will be watching what we do, and the market will reflect the value of the things that we do. We consider this a great opportunity for us to manage our company in the right direction. This is the main reason for us to list the company in the market.
Financial Advisors & Managers to the issue, Atarah Capital Partners was represented by Managing Partner Rohan Senewiratne.
CEO of the CSE, Rajeeva Bandaranaike, speaking at the ceremony, congratulated Myland Developments on its initiative to go public. “The real estate industry is witnessing impressive growth and it is important to have listed companies representing the industry as the real estate sector is somewhat underrepresented in the market capitalization of the CSE.” he said.
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