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Illiquid Shares Transferred To The Second Board By CSE 
Posted 10,November

By Chaveendra Dunuwille

In Local News

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According to the Colombo Stock Exchange Chief Executive Officer, Rajeev Bandaranaike, the CSE plans to transfer illiquid shares with low free float to the secondary board. 

According to brokers, statements made by the CSE CEO at the Dubai Investor Forum regarding “penalties” via the new Securities & Exchange Commission Act resulted in the fall of Commercial Leasing & Finance by 14.8%. CLC had previously posted a profit of 29 cents per share. In the six months leading up to September, the CEO claims he made no such statements, and his comments have been subject to misinterpretation. 

As the CSE does not separate the mainboard Index from the All Share Price Index, several illiquid companies drove up the benchmark, with some even reporting losses.