Sri Lanka Bourse Mulls Stock-Float Rule to Attract Investors
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Sri Lanka’s stock exchange plans to introduce a rule by the end of the year ensuring companies have a minimum amount of stock available for trade to lure foreign investors.
The bourse is discussing the minimum free-float requirement with regulators, investors and companies, Krishan Balendra, chairman of the Colombo Stock Exchange, said in an interview in Mumbai yesterday. A 20 percent level is being considered with possible exceptions for some overseas companies, Securities and Exchange Commission Chairman Nalaka Godahewa said in an interview in Mumbai today.