Chrissworld Ltd. (CWL-N-0000) rang the market opening bell yesterday (18) to commence trading on the Colombo Stock Exchange (CSE) at the first-ever fully Virtual Market Opening Ceremony organised by the CSE. The company listed 30,000,000 Ordinary Voting Shares and has been classified under the “Industrials” sector.
Chrissworld Ltd. is the first company to be listed on the Empower Board of the CSE after its successful Initial Public Offering (IPO) held on 27 April 2021. The IPO was oversubscribed on the first day and raised Rs. 56.25 million.
Chrissworld Ltd. Chairman Christo Perera, Atarah Capital Partners (Pvt.) Ltd. Managing Director Rohan Senewiratne, Securities and Exchange Commission of Sri Lanka (SEC) Chairman Viraj Dayaratne PC, and CSE Chairman Dumith Fernando spoke at the event.
SEC Chairman Viraj Dayaratne PC noted: “The ability to raise capital is very important for the success of a company, and startups and SMEs have found this to be the most difficult task. We at the SEC and the CSE realised that it was necessary for us to give them this much needed support. That is why the Empower Board was created to enable SMEs to list on the CSE. Chrissworld Ltd. has now given leadership to all the SMEs and startups to make use of the host of benefits that are available, and I congratulate them for taking this initiative.
“I would like to call upon all entrepreneurs in the country to make use of this opportunity. We have made it easy for companies to list on the Dirisavi Board and the Main Board. Processes have been streamlined and listings are now handled solely by the CSE in order to make it more efficient and less cumbersome. So it is our endeavor to ensure that businesses find the right environment and the facilities to develop their businesses.”
CSE Chairman Dumith Fernando congratulated the company on achieving the milestone of a public listing and being a pioneer in drawing more companies to the Empower Board. “This listing is a milestone for CSE as well as for Chrissworld Limited. We launched the Empower Board, another Board for listing on the CSE, several years ago. The Empower Board was specifically tailored for SMEs to list on the CSE.
“SMEs are the bedrock of our economy, they are the predominant majority of the number of companies in the country, and they employ almost half of the staff working in the corporate world. These are the growth engines of our economy. The ability to provide another avenue for them to seek growth capital, raise their corporate profile and establish better governance processes are all part of the objectives of the Empower Board.
“We are honoured that Chrisssworld Ltd., a strong logistics company that is profitable with a 10-year track record behind it, is going to be the first listing on the Empower Board,” he concluded.