Business

Expolanka Holdings opens market to celebrate S&P SL 20 entry

Expolanka Holdings PLC (Expolanka) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) on Friday (28). The market opening ceremony was organised to celebrate Expolanka Holdings making an entry to the S&P SL 20 as part of the 2019 mid-year index rebalance. The S&P Index is designed to measure the performance of the 20 largest and the most liquid companies listed on the CSE.

Director and Group CEO Hanif Yoosuf, Chief Administrative Officer Jagath Pathirane, Director Yoshifumi Matsubara, Senior Manager – Finance Masafumi Komatsu, and Head of Strategic Planning and Business Development Shiraz Imamudeen from Expolanka were present at the event while the CSE was represented by Chairman Ray Abeywardena, Director Shanil Fernando, CEO Rajeeva Bandaranaike, and senior management of the exchange.

CSE Chairman Ray Abeywardena, speaking at the event, congratulated the company for making it into the S&P SL 20 Index and stated that both the exchange and investors alike benefited from the company’s presence as an emerging player in the market. “The listing of Expolanka drew a considerable level of interest among investors when it was initially introduced through an IPO. The fact that the company is featured on the S&P SL 20 Index today is testament that the company has managed to maintain interest among investors in the secondary market as well, as the company stocks being traded frequently is one of the main criteria set out to be included in the index,” he added.

Expolanka Chief Administrative Officer Jagath Pathirane, commenting on the strategy and future prospects of the company, said: “We will continue to expand into new markets, new products, and new solutions, which would augment our existing business. Our focus on our business enabled us to almost double our revenue over the last five years and this year, we were able to double our profits because of the continuity and consistency of our strategy,” he added.

Expolanka’s journey started in 1978, and it grew into an international conglomerate with operations in 18 countries globally specialising in logistics, leisure, and investment.