Press briefing of Cabinet Decision taken on 2019-04-09

Conversion of the Colombo Stock Exchange into a Company limited by shares

- Attention has been focused to convert the Colombo Stock Exchange, functioning as a “not for profit” member driven organization into a “for profit” organization which is controlled by the shareholders. Accordingly, the proposal made by Hon. Mangala Samaraweera, the Minister of Finance to amend the drafted bill for converting the Colombo Stock Exchange which is functioning as a company limited by guarantee, into a company limited by shares by incorporating the ratio of distributing the shares found to be further amended and changing its legal background was approved by the Cabinet.