08th July 2011, www.lankabusinessonline.com
Regional firms are expressing interest in listing Sri Lanka, and at least two firms with operations in the Maldives may be listed before the end of the year, director general of the island's Securities Exchange Commission Malik Cader said.
Sri Lanka is now allowing foreign firms to list in the country by incorporating a holding company in the island with at least two resident directors.
"Two or three firms may come through that route this year," Cader said.
The local firm will be the beneficial owner of the foreign assets and will be subject to Sri Lanka accounting and other laws.
Cader said firms with leisure assets in the Maldives have expressed interest and are likely to be among the first to be listed.
The firm could then be cross listed in Maldives if necessary he said.
Sri Lanka's market has more liquidity than the Maldives's fledging bourse at the moment.
Sri Lanka itself is chasing and alliance with the London Stock Exchange through its 'international board' project.
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