Business

Luminex Ltd. seeks CSE listing 

Luminex Ltd., a multifaceted engineering company with a record for 35 years of operations, announced its plans to be listed on the Colombo Stock Exchange (CSE), subject to regulatory approvals. Navara Capital Ltd. has been appointed as the financial advisor and manager to the issue.

Commenting on the preparations for the proposed initial public offering (IPO), Luminex Managing Director Ruwan Fernando said: “We are looking forward to listing Luminex Ltd. on the Diri Savi Board of the Colombo Stock Exchange as part of our strategy to broad-base ownership and to further enhance our brand equity. Luminex is positioned strongly in the nation’s engineering sector and is geared to expand its operations beyond the shores of Sri Lanka. Luminex is very optimistic against a backdrop of aggressive expansion by telecom and water distribution infrastructure investments which are expected to benefit revenue growth. We are also proud of our consistent track record of generous and timely dividend payments made to shareholders.”

Three new non-executive directors have been appointed to the board recently, who bring with them a wealth of business acumen. Chairman/Non-Executive Director Dr. Harsha de Silva counts over 25 years of senior and strategic management experience in the corporate sphere locally and internationally. He is a veteran of the investment banking industry in Sri Lanka. Independent Non-Executive Director Asoka Hettigoda counts for over 25 years of experience in strategic management and is the Managing Director of the Siddhalepa Group. Independent Non-Executive Director Lionel Imbulana is a Chartered Engineer with a wide range of experience in serving Sri Lanka Telecom (SLT) for more than 35 years, having served as Chief Regional Officer in charge of Sales and Operations of SLT.