The shares of Melstacorp Limited (CODE: MELS) commenced trading on the Colombo Stock Exchange (CSE) today (30). The shares, which were listed by introduction on the Main Board of the CSE have been classified under the ‘Diversified Holdings’ sector. The occasion was marked by a special Bell Ringing ceremony hosted by the CSE.
Managing Director Mr. Amitha Gooneratne, Directors Mr. Royle Jansz, Capt. Jagath Kahanda, Ms. Vyjayanthimala Senaratne, Corporate Consultant Mr. Damien Fernando and the senior management of Melstacorp were present at the ceremony while the CSE was represented by Chairman Mr. Vajira Kulatilaka, Chief Executive Officer Mr. Rajeeva Bandaranaike and the Senior Management. Other related senior representatives from the financial services sector were also present at the event.
The listing of Melstacorp by way of an introduction follows a decision by the shareholders of the Distilleries Company of Sri Lanka to establish Melstacorp as the holding company of the group, marking a modification in the ownership structure.
Speaking at the event, the Chairman of CSE Mr. Vajira Kulatilaka noted that the company’s significant market value, diversification and considerable public offering place the introduction of Melstacorp as an important development in the capital market. He went on to state that the company would present both local and international investors with an opportunity to engage in national industries and sectors, as a result of the company’s many diversified interests.
Managing Director Mr. Amitha Gooneratne speaking on behalf of Melstacorp acknowledged the stakeholders that worked through the process that resulted in a successful restructuring of the organization and outlined its commitment to satisfying and exceeding the expectations of the shareholders and all stakeholders. Commenting on maintaining the company’s diversified interests and income generation going forward, Mr. Gooneratne said “The greatest challenge of Melstacorp would be to blend the fusion of the income the group receives through its different sources. Our main objective is to ensure that the income from the non-alcoholic beverage sector becomes almost equal, which would ensure an appropriate blend of revenue streams.”
Melstacorp Limited is a diversified conglomerate domiciled in Sri Lanka with its business interest spanning Beverage, Plantations, Telecommunication, Financial Services and Other Diversified Sectors. The Distilleries Company of Sri Lanka PLC, Balangoda Plantations PLC and Browns Beach Hotels PLC which are listed on the CSE are subsidiaries of the Melstacorp Group. Furthermore CSE listed conglomerate Aitken Spence PLC and Madulsima Plantations PLC are associate companies of Melstacorp.
Photograph – (L-R) Melstacorp Director Mr. Royle Jansz, CSE CEO Mr. Rajeeva Bandaranaike, Melstacorp MD Mr. Amitha Gooneratne, CSE Chairman Mr. Vajira Kulatilaka, Melstacorp Director Capt. Jagath Kahanda, Melstacorp Corporate Consultant Mr. Damien Fernando and Melstacorp Director Ms. Vyjayanthimala Senaratne