JAT Holdings Upcoming IPO 
Posted 9,May

By Chaveendra Dunuwille

In Local News

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JAT Holdings has become the most recent family owned business to go public  and join the Colombo Stock Exchange and is to announce an Initial Public  Offering (IPO) by the end of June.  

According to the Founder and Managing Director Aelian Gunawardana the  necessary documents have already been submitted to the Securities and  Exchange Commission (SEC) 

When inquired as to what factors contributed to the decision to list in the CSE  the Managing Director noted that this course of action was taken with the  intention of tapping into the company’s potential as the primary objective.  Furthermore he added that the recent concessions made by the government  contributed to the decision.  

Prime Minister Mahinda Rajapaksa proposed several reforms that would promote  local companies to list in the CSE. The PM also acting as the finance minister  proposed a 50% tax concession for the year 2021/2022 for all companies that  listed prior to the 31st of December, 2021. Furthermore it was recommended that  cooperate tax be maintained at 14% 

The upcoming IPO of JAT Holdings would be the latest addition to the list of IPO’s  which upon the introductions of the concessions have significantly increased.  Previous IPO’s such as that of Windforce Ltd and Chrissworld Ltd have provided  the respective companies with favourable returns and it is without a doubt that  JAT Holdings would expect a similar result on its upcoming IPO.