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Luminex Limited signs on to Diri Savi board after Rs. 250 million capital raise

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Luminex Limited signs on to Diri Savi board after Rs. 250 million capital raise

Monday, June 27, 2022, 4:08 a.m. SL time, ColomboPage News Desk, Sri Lanka.

June 27, Colombo: Following the completion of the IPO process, shares of Luminex Limited officially began trading on the Colombo Stock Exchange (CSE) on June 23, 2022.

The shares were listed on CSE’s Diri Savi Board of Directors in the Capital Goods Sector 2010. The occasion was marked by a special bell ringing ceremony held at the CSE Trading Floor.

Key executives from Luminex Limited, including Chairman Dr. Harsha N. De Silva, Managing Director Mr. Ruwan Fernando, and Director and Chief Executive Officer Mr. Upul Lekamge, were on hand to celebrate the company’s milestone event.

Financial Advisor and Issuance Manager Navara Capital, who guided Luminex Limited through the listing process, was represented by Chief Operating Officer Mr. Jayasankha Alahendra and members of the engagement team.

The CSE was represented by its Managing Director, Mr. Rajeeva Bandaranaike, the Regulatory Director, Mr. Renuke Wijayawardhane, and CSE senior management.

Speaking at the ceremony, CSE CEO Rajeeva Bandaranaike commended Luminex Limited for its initiative to go public.

Luminex is our fifth stock listing for 2022. We are pleased to have well-established companies from diverse backgrounds represented on the CSE and offer investors a variety of options when investing in the local stock market.

Besides helping to raise capital, the stock market also allows companies to discover a price for their shares by releasing value and thus creating wealth for its shareholders. It also inculcates good governance and transparency practices through the CSE compliance framework.

Speaking at the event, Luminex Limited Chairman Dr. Harsha N. De Silva said that over the past 35 years the company has become a formidable force in the areas of telecommunications infrastructure. and general engineering. Last year, the company recorded a turnover of 3.1 billion rupees and an after-tax profit of 489 million rupees.

We have a staff of 570 who operate from 29 operations centers across the country. Luminex is also an ISO 9001 certified company and holds an EM 1 grade from the Construction Industry Development Authority (CIDA), which speaks volumes about the professionalism of the company and its employees. We are also very happy and satisfied with the successful conclusion of the IPO, even during some of the most difficult times Sri Lanka has ever experienced. We are encouraged by the response and would like to especially thank all the investors who have placed their trust in the company.

Dr. De Silva commented on the event, thanking CSE’s listing team as well as Navara Capital Partners’ management team for making Luminex’s IPO a success.

As a team, we strongly believe in the resilience of the Sri Lankan economy and its people. We are more determined than ever as a company to move forward and make our contribution to the Sri Lankan economy even in these difficult times. Luminex will strive to do its part as a good corporate citizen and provide the necessary support to the people and government of Sri Lanka in any way possible. We are confident in the resilience of CSE and the value proposition it offers and wish to encourage everyone by our example not to be discouraged and discouraged by negative market sentiments, but to take advantage of the opportunities available.

A listing on the CSE is a mark of prestige – an affirmation of a company’s commitment to ensuring the highest standards of corporate governance and transparency. A public listing also represents the ultimate recognition of a company’s achievements in terms of growth and prestige. Publicly listed companies benefit from increased financial flexibility, better access to capital, increased local and global profile, access to liquidity among a number of other financial and non-financial benefits. The ability to tap into global capital without the restrictions inherent in traditional lending terms is also a powerful tool and the CSE acts as a gateway to global capital.

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