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Logan Rockefeller enters Lanka
Thursday, 22 July 2010 - 10:07 AM SL Time
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The Logan Rockefeller Global entered Sri Lanka with the opening of Logan Rockefeller Global Lanka Asset Management Company yesterday.
The company also announced their sister company LR Global Strategic Investments will invest Rs 2.5 billion in Sri Lanka.
LR Global Lanka Asset Management Company Managing Director Channa de Silva said the company intends to bring significant portfolio investments to Sri Lanka.
It will support companies to list in the market making sizable investments, pre-Initial Public Offering (IPO) as well as secondary market investments in the stock market, he said. The company is committed to build one of the best investment teams in Sri Lanka and will work strongly with other frontier markets too, de Silva said.
The Managing Director said the company will get listed in the Colombo Stock Exchange (CSE) within a period of one year. We hope to set up at least five to six companies in motion in the short and medium terms.
LR Global New York Managing Partner, Don LaGuardia said Sri Lanka has shown optimistic outcomes during the post war era. The political stability, low interest rates and high foreign remittances are some of the key factors we selected Sri Lanka.
We expect that the country s gross Domestic Production (GDP) to be increased gradually.
We are here for long-term investment opportunities. There are significant possibilities especially for the frontier markets.
With the optimism and opportunities available we expect more foreign investors to Sri Lanka, he said.
LaGuardia said we intend to raise capital locally and introduce more retail trading by attracting foreign investors to widen the market activities.
This will provide a better chance for the Sri Lankan Diaspora to contribute to the country s economy. At present the capital market is lucrative and we hope that this initiative of the company will be a successful venture.
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Imperator
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Joined: Nov 2006
Posts: 11687
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 23 Jul 2010 01:45:39 GMT Report for Abuse
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| The genius above me has already seen the end of this venture. If only Sri Lanka had more like him. |
kiora
Joined: May 2006
Posts: 818
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 23 Jul 2010 02:30:03 GMT Report for Abuse
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| I agree if Sri Lanka had more like him certainly lift the countries IQ, May be he is getting bit stale with gluttony of good news announced day in and day out.May be he s a sceptic one can only take so much of good news. |
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22 Jul 2010 22:39:50 GMT