The shares of Cable Solutions Ltd. (CSL) (CODE: CSLK-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on 14 August.
The shares have been listed on the Diri Savi Board of the CSE. The occasion was marked with a special bell ringing ceremony.
The company’s Initial Public Offering (IPO) for over 80 million ordinary voting shares for sale at Rs. 7.50 per share, was notably oversubscribed on the opening day itself.
The event was attended by CSL Chairman Suren Madanayake, Managing Director Pawan Tejwani, Director Mahesh Amarasiri, Director Daya Wahalatantri, Tempest PE Partners Head of Operations Ranila Wijesundara, Assistant Manager Sajana Gunewardhana, , Asia Securities Chairman Dumith Fernando, Asia Securities Ltd. (ASL) Vice President – Investment Banking Udesh Rajeendra, Analyst, Pavani Hindurangalage, and guests from CSL, ASL and Tempest PE Partners. The CSE was represented at the event by its CEO Rajeeva Bandaranaike; CRO Renuke Wijayawardhane and the CSE senior management.
Delivering the opening remarks Rajeeva Bandaranaike congratulated Cable Solutions Ltd. on its progressive initiative to go public. “With an oversubscribed IPO on its opening day, Cable Solutions now becomes a PLC today. This milestone will elevate your corporate status and enhance relationships with your customers, suppliers, bankers, and investors. Listing brings greater visibility and brand recognition for the company and over time creates wealth for your shareholders. The compliance and regulatory framework you now enter will further strengthen your company’s standing, leading to significant long-term benefits.”
Tejwani, delivering the keynote address, stated: “Cable Solutions is truly a synergistic product of collective vision. Our success hinges on preserving our core values while stimulating progress. This blend has created a dynamic organisation that has achieved significant growth, including a successful IPO.” He concluded: “I believe export growth is inseparably connected with investor confidence, and with strong investor support, I am optimistic about our continued growth.”