Cable Solutions Limited (CODE: CSLK-N-0000) successfully commenced trading on the Colombo Stock Exchange (CSE) on August 14, 2024. The company marked this milestone with a special Bell Ringing Ceremony, celebrating its transition to a publicly listed company.
The company’s Initial Public Offering (IPO) featured over 80 million ordinary voting shares, priced at Rs. 7.50 per share, and was notably oversubscribed on its opening day.
Rajeeva Bandaranaike, CEO of CSE, delivered the opening speech, stating, “With an oversubscribed IPO on its opening day, Cable Solutions now becomes a PLC. This milestone will elevate your corporate status and enhance relationships with your customers, suppliers, bankers, and investors. Listing brings greater visibility and brand recognition for the company and, over time, creates wealth for your shareholders. The compliance and regulatory framework you now enter will further strengthen your company’s standing, leading to significant long-term benefits.”
Founded in 2008, Cable Solutions has established itself as a leader in the cable manufacturing industry, exporting to 13 countries and generating 94% of its revenue from exports. The company’s market reach spans major economies, including the USA, Spain, India, Sweden, and Austria.
The Bell Ringing event was attended by key figures from Cable Solutions Limited, including Chairman Suren Madanayake, Managing Director Pawan Tejwani, and Directors Mahesh Amarasiri and Daya Wahalatantri. Representatives from Tempest PE Partners and Asia Securities Limited, alongside CSE officials, also participated in the ceremony.