A Janashakthi Group (JXG) IPO was a landmark event for the local capital market, valued at over Rs. 5 billion, making it the largest IPO on the CSE in the last 14 years.

‘The company emphasises that the success of the issue was critical not only for the firm but also for the broader market sentiment, said Group Chairman Chandan de Silva.

Senior Group leadership along with Founder and Chairman Emeritus Chandra Shafter rang the opening bell of the CSE, marking the successful conclusion of the IPO listing. The event was held recently at the CSE head office at the WTC building.

De Silva making the keynote address said that market conditions were “hugely positive” when the IPO was initially approved in early February.

He also said that this IPO was thrice oversubscribed and has more than 20000 shareholders throughout the country.

However, a “drastic shift” in market sentiment occurred following the finalisation of the IPO, primarily driven by ongoing events in the Middle East, which created significant concerns regarding the offering’s success.

To mitigate these risks, Janashakthi Limited engaged in proactive pre-marketing of the issue to both local and foreign investors. These investors provided firm commitments for substantial subscriptions, provided they were given reasonable assurances of receiving allocations based on their pre-commitments.

The company stated that these preferential allotments were made based on practical considerations to ensure the IPO’s success while remaining within the Listing Rules of the CSE.

By Hiran H Senewiratne

HNB Life recently hosted its first Sales Convention at the ITC Ratnadipa, following the launch of its new brand identity, bringing together its advisor distribution force to celebrate a year of exceptional performance and continued momentum.

The event marked a significant milestone for the company, highlighting the strength and consistency of its advisor channel, which has delivered steady growth over the past five years. In 2025, the channel recorded an impressive 28% growth in Gross Written Premium (GWP) and a 25% increase in New Business Premium (NBP), reaffirming its critical role in driving the company’s success.

A total of 622 awards were presented during the evening, recognizing the dedication, and outstanding achievements of HNB Life’s advisors across the island.

Further highlighting the channel’s excellence, HNB Life recorded its highest-ever number of MDRT qualifiers for the advisor channel, reaching 132, a 51% growth over last year, which also includes 1 Top of the Table (TOT) and 5 Court of the Table (COT) members.

The convention also served as a platform to unveil several key initiatives aimed at empowering advisors and strengthening their journey as trusted Life Planners under the new HNB Life identity.

Speaking at the convention, Lasitha Wimalaratne, Executive Director / Chief Executive Officer of HNB Life stated, “This convention is not just a celebration of numbers, but a celebration of consistency, commitment, and the spirit of our people. As we step into this new chapter as HNB Life, it is inspiring to see our advisor force continue to raise the bar year after year. Their dedication is what drives our growth and strengthens the trust our customers place in us. My sincere congratulations to all our winners for their outstanding achievements, and my appreciation to every member of our Advisor Distribution Management for their continued efforts. It is this collective strength that will power us forward as we aim for even greater milestones in the years ahead.”

Harindra Ramasinghe, Executive Vice President / CBO – Advisor Distribution Channel of HNB Life added, “Our advisor distribution channel has once again demonstrated its strength. The growth we are witnessing is not by chance, it is built on discipline, capability, and a deep understanding of customer needs. I would like to extend my sincere appreciation to the entire Distribution Management Team including our SBU Heads, Regional Managers, Zonal Managers, Branch Managers and our dedicated training teams who continuously guide and push this team to be their very best. Their role behind the scenes plays a vital role in shaping the success we celebrate today. With the new initiatives introduced, and many more exciting developments in the pipeline, we are confident that we will continue to reach even greater heights and redefine what excellence looks like in the years ahead.”

Sri Lanka: Visa (NYSE: V), a global leader in digital payments, announced that Suresh Sethi has been appointed Group Country Manager for India and South Asia. In this role, Suresh will lead Visa’s strategy and operations across India, Bangladesh, Sri Lanka, Nepal, Maldives and Bhutan.

Suresh succeeds Sandeep Ghosh, who is leaving Visa for other opportunities. Based in Mumbai, Suresh will report to Stephen Karpin, Regional President, Asia Pacific, Visa.

Stephen Karpin, Regional President, Asia Pacific, Visa, said, “India and South Asia region continues to be among Visa’s most dynamic and strategically important markets. Suresh brings expertise and knowledge that will accelerate Visa’s aspiration to be the best way to pay and be paid. I am confident he will build on Visa’s strong foundations in the region, alongside clients, partners and policymakers to advance digital payments.”

He added, “I thank Sandeep for his leadership over the last four years, and for facilitating the smooth transition of the business to Suresh.”

Suresh Sethi, Group Country Manager, India and South Asia, Visa, stated, “I am pleased to join Visa at a defining moment for digital payments in India and South Asia. The next phase of growth will be driven by scale, trust, and innovation across an increasingly diverse payments ecosystem. Visa’s global capabilities, strong partnerships, and technology leadership provide a powerful platform to accelerate adoption, deepen acceptance, and deliver secure, inclusive, and high-impact payment solutions.