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Understanding the strategic value of listing on the Colombo Stock Exchange

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Kanishka Munasinghe, Vice President of the Listing Division

Kanishka Munasinghe, Vice President of the Listing Division at the Colombo Stock Exchange (CSE), outlines the strategic value of listing on a stock exchange, detailing the role of the Listing Division, followed by the benefits for companies, the broader economic impact, and the essential considerations entities must assess before going public.

What is the Role of the Listing Division at the CSE?

The Listing Division of the Colombo Stock Exchange supports both potential and existing listed companies in raising debt and equity capital through a diverse range of products. The Division’s role includes the reviewing applications from prospective issuers and granting approval to those that meet the required criteria and comply with the applicable rules for listing on the CSE, whilst positioning the CSE as the most preferred platform for further capital raising by listed companies. The Listings Division also strives to grant approvals within the stipulated timelines, provided all documentation is submitted in compliance with the listing rules.

In reviewing the Initial Listing Applications of both potential and existing listed companies, the Listing division ensures that such companies have adhered to the applicable Rules of the CSE and the CSE Listing Framework, which maintain transparency and adequacy of disclosures made in offer documents (i.e. Prospectus, Introductory Document and Circular to Shareholders).

The CSE’s review process also includes an in-depth analysis of the potential issuer’s financial performance in the present operating history and a financial analysis conducted for a pre-defined future period. All listing applications are reviewed by a dedicated Listing Review Committee comprising several members of the CSE’s senior management, who are responsible for granting approval for listings.

Overall, the entire review process carried out by the CSE ensures that the potential issuer conducts the IPO, and the existing issuers carry out further issues of securities in line with the rules, regulations, and procedures of the CSE.

In addition to the above the Listing Division of the CSE also:

Advises listed companies, potential issuers, and investment banks on the listing of securities and the application of the CSE Listing Rules/Listing Framework.

Contributes to the formulation of policies and rules applicable to listed companies.

Supports the implementation of strategic initiatives which are of importance to listed companies and potential issuers.

Performs the related system entries to enable the listing of securities.

Could You Elaborate on the Key Advantages a Company Can Unlock by Accessing the Capital Market Through Listing on the Colombo Stock Exchange?

Listing allows companies to raise capital by issuing shares to the public through an Initial Public Offering (IPO) or further issue of shares, which encapsulate benefits not typically seen in traditional methods of funding such as borrowing. This helps companies in diversifying their funding avenues for various purposes.

The funds raised through IPOs can be used for purposes such as debt settlement, which in turn helps companies manage their gearing and debt exposure, and strengthens the balance sheet. The funds raised through a Stock Exchange can also be utilized for expansion and new business opportunities. Additionally, funds raised through an IPO can be used for any purpose without restrictions, provided the companies operate within the prevailing regulatory and legal parameters.

Listing typically requires companies to comply with corporate governance rules and regulations, which can improve transparency and accountability of a company. This, in turn, allows the company to attract strategic investors who may be looking to invest with a strong profile and sound governance practices.

Furthermore, listing provides companies with a greater opportunity for value creation and price discovery through secondary market trading. It also enhances corporate visibility and recognition, while improving the overall profile of the company in terms of business, systems, processes, and employment.

How Does Listing on a Stock Exchange Contribute to Broader Economic Development?

Listing allows companies to raise capital by offering shares to the public, which can be used for expansion, research and development, or new business opportunities. Such capital injection fuels economic growth by enabling companies to invest in infrastructure, technology, and job creation.

Listing attracts not only domestic investors but also foreign investors, allowing foreign funds to flow into the local market, where such inflows are pivotal for economic growth as it helps fuel local businesses.

Listing on a stock exchange requires companies to adhere to strict corporate governance and disclosure regulations, promoting transparency and accountability. This increases transparency and builds trust among investors and encourages long-term investment in the economy.

Listed companies and their new business ventures enable the creation of new job opportunities in various sectors, contributing to a larger and more skilled workforce. This helps address unemployment issues and leads to improved living standards for the population.

What Key Factors Should a Company Take into Account Before Listing?

Financial Stability of the Company: A company intending to list should review its financial statements to assess profitability, asset value, and debt levels with a view to meet the predefined listing criteria of the Stock Exchange. Such a review should primarily focus on consistent revenue growth, profitability, and asset valuation.

Market Conditions and Investor Sentiment: It is essential that a company thoroughly assesses market conditions to determine the right time to launch an IPO. In doing so, the company should have a clear understanding of investor sentiment, industry outlook, and other relevant factors.

IPO Pricing and Valuation: A company should determine a fair IPO price that reflects its true value and attracts investor interest. Various valuation techniques can be used to arrive at an appropriate price.

Existing Financial, Legal, or Governance Issues: Prior to listing, a company should carefully examine any prevailing / potential financial, legal, or governance issues that may adversely impact the success of the IPO or the sustainability of the business in a listed environment. This assessment will help the company achieve a smooth listing process.

Corporate Governance and Management: A strong corporate governance structure builds trust and transparency with investors. Before listing, a company should have a clear plan on how it intends to comply with the corporate governance practices prescribed by the Exchange.

Rules and Regulations of the Exchange: Before listing, a company must have a clear understanding of the rules, regulations and procedures it must comply at the time of listing, as well as those applicable on a continuous basis along with the applicable enforcement action. Such understanding will help companies reap the benefits of listing without any interruptions and limitations.

Shareholder Considerations: A company should analyze its existing ownership structure to understand who holds shares and their potential impact. It should also assess how shareholding may be diluted through an offer for sale or offer for subscription, while ensuring compliance with the applicable minimum public holding requirements.



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HNB Assurance Elevates ‘Liya Harasara’ 2026 with Unmatched Benefits to Honor the Spirit of Womanhood

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HNB Assurance PLC launched the 2026 edition of Liya Harasara, its flagship annual initiative dedicated to celebrating and empowering women in line with International Women’s Day. Recognized as one of the most anticipated campaigns of the year, Liya Harasara continues to evolve, delivering meaningful protection and exclusive privileges designed to support women in every stage of life.

This year’s edition introduces the most rewarding benefits in the history of the initiative. Women who sign up for eligible Regular Premium Life Insurance policies will receive a Free Life Cover of up to Rs. 2 Million for one year, along with a Free Critical Illness Benefit of up to Rs. 500,000, providing enhanced financial security and reassurance when it matters most. Additionally, female policyholders are also entitled to pregnancy related hospitalization cash benefit for Life Insurance Policies with in-force Hospitalization Benefit, for a maximum of three days per annum.

Commenting on the significance of this year’s campaign, Lasitha Wimalarathne, Executive Director / CEO of HNB Assurance, stated: “As we mark our 25th year as a trusted life insurer, we wanted Liya Harasara 2026 to reflect the strength of the journey that brought us here. For 25 years, women have been at the heart of our story, as leaders, advisors, customers and changemakers. This special edition is our way of honoring that partnership and reaffirming our commitment to protecting their aspirations for the future. When women progress, families prosper and communities thrive and we are proud to stand by them with meaningful protection and lasting assurance.”

Sharing his thoughts, Dinesh Yogaratnam, Chief Marketing and Customer Experience Officer of HNB Assurance, added, “Liya Harasara has grown into more than just an annual campaign, it is a tribute to the Spirit of Womanhood, to resilience, ambition and strength. The 2026 edition has been thoughtfully enhanced to deliver greater value and deeper impact, ensuring women receive protection that truly supports their ambitions and wellbeing. We remain committed to creating solutions that empower confidence and provide peace of mind, enabling women to focus on achieving their goals without compromise.”

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Seven decades of sartorial excellence: The legacy of Linton Master Tailors in Kandy

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In the 1950s, Linton Wimalasena Udagagedara served as the tailoring instructor at the rehabilitation unit of the Bogambara Prison. Known affectionately by all as “Linton Master,” he laid the foundation for a legacy that would eventually redefine men’s fashion in the hill capital.

In 1958, Linton Master ventured into private business by renting a small shop in Trincomalee Street, Kandy, under the name “Linton Master Tailors.”

Supported by a handful of employees and the unwavering strength of his wife, Srima Alwala, the business began its humble journey. In those early days, Linton Master would travel from Kandy to Pettah, Colombo, walking miles to handpick high-quality fabrics at affordable prices. Though the initial years were a struggle, he never compromised on quality.

Due to his commitment to superior craftsmanship and impeccable finishing, “Linton Master’s Shop” in Trincomalee Street soon became a household name across the Kandy region. By the 1970s, the thriving business moved to Yatinuwara Veediya. As the enterprise grew, Linton Master eventually purchased the rented building and the adjacent premises. In the 1990s, the brand reached its zenith, becoming a hallmark of excellence.

Following the passing of Linton Master in 2009, the business transitioned into a new era. Today, it stands proud at the same familiar location in Yatinuwara Veediya, rebranded as “Linton & Sons Master Tailors.” His legacy is carried forward by his children; while one son manages a printing press and a daughter runs a bridal wear brand under the Linton name, his son Nidarshana Udagagedara has significantly expanded the core tailoring business.

Today, Kandy is home to three main institutions bearing the prestigious Linton brand. Linton & Sons Master Tailors, now employing around 20 skilled professionals, is a nationally recognized name. Known for their international standards, it is said that anyone who gets a full suit tailored at Linton & Sons invariably returns for their second.

The business that once started with fabric handpicked from Pettah now utilizes world-renowned international brands. Linton & Sons is currently the only tailor shop in Kandy that creates garments using prestigious fabrics such as Raymonds, Pacific Gold, Medici, and Macone.

Current Chairman Nidarshana Udagagedara notes that they serve a loyal customer base, with complete groom’s suit packages ranging from Rs. 30,000 to Rs. 90,000. With a highly experienced team, they now offer an exclusive one-day service, allowing customers to have bespoke designs created to their exact specifications in record time.

Spanning seven decades, the Linton lineage, which has brought fame to Kandy, has now successfully expanded from the second generation to the third, ensuring that the master’s stitch continues to define elegance for years to come.

By S.K. Samaranayake

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LANKATILES Captivates Architect 2026 with a Spectacular Celebration of Fine Living

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Overall Best Stall and Best Trade Stall Displaying Local Products awards at Architect 2026

At the prestigious Architect 2026 Exhibition, LANKATILES unveiled an immersive Concept Studio of contemporary design, where every surface spoke in allusive ways of exquisite craftsmanship and architectural vision.

Among a host of outstanding participants, the Concept Studio was recognized with two of the exhibition’s highest accolades: Overall Best Stall and Best Trade Stall Displaying Local Products. This is a resounding testament to five decades of trust, quality, and innovation.

The Concept Studio was thoughtfully zoned to evoke the ambiance of curated interiors and sophisticated entryways, unveiling the latest designs introduced to the market. Visitors were guided through a seamless spatial journey, beginning with the Living Zone, where expansive surfaces harmonized durability with refined design to elevate everyday living. The Kitchen Ambience Zone presented a contemporary culinary environment enriched with elegant finishes, demonstrating how functionality and elevated aesthetics coexist in modern homes.

The experience continued into the Bedroom Zone, an intimate and serene setting curated with soothing palettes and luxurious surfaces to create a tranquil retreat defined by comfort and understated elegance. Complementing this was the Bathware Zone — a sanctuary of calm showcasing precision-crafted porcelain surfaces that seamlessly blended purity of form with superior performance, redefining modern bathroom sophistication.

Extending beyond interiors, the Poolside Zone highlighted elegant outdoor settings framed by resilient, high-performance tiles, where aesthetic excellence met enduring strength in expressive interpretations of contemporary luxury. Featuring the latest Mosaic designs alongside the grand large-format tile series, Majestica, each zone illustrated how LANKATILES transforms raw materials into architectural poetry, reinforcing its leadership in innovation and design excellence.

Another defining feature of the Concept Studio was the AI-powered Tile Visualizer; an advanced digital interface designed to offer architects and homeowners an intelligent and immersive visualization experience that redefines the way interiors are selected and conceptualized. Within minutes, users can upload an image of their dream space and instantly explore precisely matched tile designs and colour palettes tailored to their aesthetic preferences.

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