Tag Archives: IPO Sri Lanka

First Capital Treasuries PLC lists on the Colombo Stock Exchange

Photo Caption – Podium Participants (L-R)
CEO of the CSE Mr. Rajeeva Bandaranaike, Director of the CSE and Director/CEO of First Capital Treasuries PLC Mr. Dilshan Wirasekara, Managing Director of First Capital Treasuries PLC Mr. Dinesh Schaffter, Chairman of First Capital Treasuries PLC Mr. Nishan Fernando, Director of First Capital Treasuries PLC Ms. Minette Perera, Director of First Capital Treasuries PLC Mr. Chandan de Silva, Chief Regulatory Officer of the CSE Mr. Renuke Wijayawardhane, Head of Listings of the CSE Ms. Vinduni Dullewe

The shares of First Capital Treasuries PLC (CODE: FCT-N-0000) commenced trading on the Colombo Stock Exchange (CSE) today. The shares have been listed on the Diri Savi Board of the CSE under the “Investment Banking & Brokerage” sector. The occasion was marked with a special Bell Ringing Ceremony.
Representing First Capital Treasuries PLC, Chairman Mr. Nishan Fernando, Managing Director Mr. Dinesh Schaffter, Director/CEO Mr. Dilshan Wirasekara, Directors Ms. Minette Perera, Mr. Chandan de Silva joined the event.
The CSE was represented by Chief Executive Officer Mr. Rajeeva Bandaranaike, Chief Regulatory Officer Mr. Renuke Wijayawardhane and Head of Listings Ms. Vinduni Dullewe at the event.


CEO of the CSE, Mr. Rajeeva Bandaranaike, speaking at the ceremony, congratulated First Capital Treasuries PLC on its initiative to go public. “With the history of nearly 40 years first capital treasuries has functioned as a pioneer licensed primary dealer appointed by the central bank to deal in government securities and we are happy to see that First Capital Treasuries is now opening its doors to the public, to join their journey of wealth creation.
Commenting of the Performance at the CSE, Mr. Bandaranaike added “As we conclude 2021. We are delighted to note, that the CSE has showcased a strong growth trajectory, both in terms of capital raising, as well as price growth and being of immense value to Sri Lankan corporates. As you know Sri Lankan companies are increasingly recognizing the stock exchange as a platform to achieve greater financial freedom, improved access to capital, enhanced global profile, access to liquidity, and also an attractive proposition to tap into the global capital pool.”


Speaking at the event, Chairman of First Capital Treasuries PLC, Mr. Nishan Fernando, thanked the CSE, the investor community, staff members of First Capital Treasuries PLC and the media for the support extended during the IPO. Speaking on the listing experience he added, “Taking the company public has been part of our strategic plan for some time now. Listing and trading shares publicly gives a boost to both the brand equity and the trustworthiness of any company. It also gives the company the opportunity to truly understand its perceived value in the market. Then, there are the tax exemptions being offered by the government. Taking all these benefits into consideration, we felt that the time was right for us to invite the general public to be a part of First Capital Treasuries’ growth story.”
Commenting on the performance of the CSE Mr. Fernando added, “I commend the CSE for their outstanding work over the last couple of years and look forward to seeing them do more to encourage other companies to list. The market has seen a good number of listings take place this year. I believe this will continue.”

Lets Talk Delivery vs Payment (DVP)

Delivery vs Payment (DVP) System is an important change to the Sri Lankan Equity Market and will uplift the CSE to be on-par with regional Markets and also, elevate Sri Lanka to an Emerging Market status.
DVP is an efficient system that will not impact investors’ credit, day trading, and cost of trading, settlement will still be on T+3.
Additionally, this globally accepted practice will minimize settlement risk and strengthen the overall credibility and integrity of the CSE, making the Sri Lankan Equity market attractive to Foreign Investors.
The change will mainly be between the Stockbroker Backoffice system and the CSE and, will hopefully be implemented by end of July 2021.
Watch Jaliya Wijeratne CEO of First Capital Equities and President Colombo Stock Brokers Association together with officials from the Securities and Exchange Commission of Sri Lanka and the Colombo Stock Exchange answer questions sent by the investor community.
If you have any questions or concerns regarding the implementation of DVP, please email equities@firstcapital.lk

Potential of Corporate Debt Capital – Sri Lanka Investment Forum 2021

Sri Lanka Investment Forum Livestream, in which our Director, CEO, Dilshan Wirasekara moderated a discussion on the Potential of Corporate Debt Capital with Senaka Kakiriwaragodage – Director, Chief Executive Officer for NDB Capital Holdings Limited and Vishnu Balachandran – Executive Vice President for CAL.

View the session: https://m.youtube.com/watch?v=xmQCT4nyVjQ

 

TRADE THE RIGHT WAY – Online Trading

First Capital is home to one of the largest financial research capabilities of its kind.

When you are trading from home, make sure to choose First Capital as your stockbroker, so that you have access to plenty of insights and experts who’ll share with you the trends and analytics to make the right trading decisions in a snap of time.

Call us on +94112639888 or email info@firstcapital.lk and we will have our team reach out to you with more information.

The First Capital Team – Town Hall Meeting

The First Capital Team have had a great year, marking many milestones while working remotely since October to ensure that our customers’ financial aspirations are achieved, while we protect our staff, our families and our community.

Today we are excited to share some screenshots of our Town Hall meeting where the whole team was logged in together!

#firstcapital #performancefirst #embaringthenewnormal

#teamphot o

First Capital Holdings PLC Announces Appointment of COO

First Capital Holdings PLC has announced the appointment of Tharusha Ekanayake as its Chief Operating Officer (COO) with effect from 09th November 2020. A banking and finance professional, he previously held the role of Vice President / Deputy Head of Treasury – Nations Trust Bank PLC. Tharusha brings 21 years of experience in financial services, spanning Fixed Income Securities, Treasury and Investment Banking activities.

Working across all subsidiaries of the Group, Tharusha will play a critical role in strengthening the Company’s Fixed Income Dealing, Structuring and Trading activities and also Capital Markets Advisory services.

Speaking about the appointment, Director / Chief Executive Officer of First Capital Holdings PLC, Dilshan Wirasekara said: “Tharusha Ekanayake joins us at a crucial juncture in order to drive the future growth of our group businesses. He brings with him a wealth of knowledge on fixed income, further fortifying First Capital’s position as the leader in this space.

Tharusha holds a Bachelor of Science, Special Degree in Chemistry – Honours from the University of Peradeniya.

First Capital Holdings PLC issuer rating upgraded to [SL]A by ICRA Lanka Limited

ICRA Lanka, has upgraded the issuer rating of First Capital Holdings PLC to [SL]A with Stable outlook from [SL]A- with Stable outlook.

ICRA Lanka has taken a consolidated view of the First Capital group, comprising of First Capital Holdings PLC and its subsidiaries, which is involved in a range of financial services such as primary dealership, equity trading, corporate advisory, debt structuring and asset management. There is a strong interlink between the entities through sharing of a common brand, management team, systems and group treasury functions.

The ratings upgrade factors in the status of the company as the holding company of First Capital Treasuries PLC, the leading standalone primary dealer currently in Sri Lanka with an issuer rating of [SL]A with Stable outlook. The ratings upgrade also factors in the improvement in the capital and gearing profiles, good market position offering diverse financial services, a strong senior management team, risk management processes to reduce market and operational risks, as well as improvement in the capitalization profile through healthy internal generation.

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In photos –

  • Nishan Fernando – Chairman, First Capital Holdings PLC
  • Dilshan Wirasekara – Director/Chief Executive Officer, First Capital Holdings PLC

ICRA Lanka upgrades the ratings of First Capital Treasuries PLC to [SL]A

Rating action

ICRA Lanka Limited, has upgraded the issuer rating of First Capital Treasuries PLC (FCT or “the Company”) to [SL]A (pronounced SL A) from [SL]A- (pronounced SL A minus).

ICRA Lanka has also upgraded the issue rating of the LKR 750 Mn Subordinated, Unsecured, Redeemable Debenture programme of FCT to [SL]A- (pronounced SL A minus) from [SL]BBB+ (pronounced SL triple B plus).

The issue rating of [SL] BBB+ (pronounced SL triple B plus) with stable outlook for the LKR 500 Mn Subordinated, Unsecured, Redeemable Debenture programme of the company has been withdrawn as the said debentures have matured and there is no amount outstanding against the rated instrument. The outlook on the long term ratings remains Stable.

Rationale

ICRA Lanka has taken a consolidated view of the First Capital group (comprising of First Capital Holdings PLC and its subsidiaries), which is involved in a range of financial services such as primary dealership, equity trading, corporate advisory, debt structuring and asset management. There is a strong interlink between the entities through sharing of a common brand, management team, systems and group treasury functions.

The ratings upgrade considers the healthy performance of FCT (a subsidiary of First Capital Holdings PLC rated [SL]A), following the robust earnings of LKR 1,208 Mn and LKR 1,356 Mn in FY2020 and Q1 of FY2021, respectively, in comparison to LKR 96 Mn in FY2019 (LKR 1,671 Mn in FY2018).

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First Capital Wealth Fund announces dividend of Rs. 100 per unit for FY 2019/20

First Capital Asset Management Ltd., the managers of the First Capital Wealth Fund, has announced a dividend of Rs. 100 per unit for the year 2019/20.

The fund has delivered a return of 11.14% (Compounded Annual Growth Rate) since inception as at 5 October.                                                                                                                       
‘Astute assessment of market opportunities, leveraging on interest rate fluctuations and prudent management is attributed to the successful growth of the unit trust funds under our management,” said First Capital Asset Management Ltd. AGM – Asset Management Kavin Karunamoorthy.

“Utilising our expertise as a specialised knowledge and industry expert, in debt market services and prominent non-bank primary dealer in Sri Lanka, we are confident that the unit trusts managed by First Capital Asset Management Ltd. will continue to reap the rewards of timely, well-informed investments,” he added.

First Capital Asset Management, a subsidiary of First Capital Holdings PLC, is licensed and approved by the Securities and Exchange Commission of Sri Lanka (SEC) while Bank of Ceylon (BOC) acts as the trustee and custodian for the fund.

The company specialises in managing investments for high net-worth individuals, trusts and companies. First Capital Asset Management Ltd. is a subsidiary of First Capital Holdings PLC which offers investment solutions in fixed income, equities, wealth management and capital markets advisory.