Colombo Stock Exchange Chairman, Mr. Ray Abeywardena to attend GOLD 100 GALA 2019 as Guest of Honor, aiming to increase opportunities to Maldivian businesses

Colombo Stock Exchange Chairman, Mr. Ray Abeywardena has been confirmed as the guest of honor for GOLD 100 GALA 2019, the most prestigious business awards of Maldives. The Third edition of GOLD 100 GALA is scheduled to be held on 23rd February 2019, at Paradise Island Resort.

Mr. Ray Abeywardena will be accompanied by CEO of CSE, Mr. Rajeeva Bandaranaike as they aim to increase opportunities to Maldivian businesses via Colombo Stock Exchange. Mr. Ray Abeywardena has been associated with the Sri Lanka’s capital markets for over 30 years, primarily as a Stockbroker and since 2009 as an Investment Banker. Mr. Rajeeva Bandaranaike, who has been serving as the CEO of CSE since 2013, is at the forefront of an industry going through rapid transformation.

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Share trading in Sri Lanka was initiated in 1896 under Share Brokers Association (SBA). In 1904, SBA was renamed as Colombo Brokers’ Association. They started auctioning shares in an open land. Later a competitor evolved, Stock Brokers Association and in 1985 Colombo Brockers & Stock Brokers merged and formed Colombo Securities Exchange.

The establishment of a formal stock exchange took place in 1985 with the incorporation of the Colombo Stock Exchange (CSE), which took over the Stock Market from the Colombo Share Brokers Association. In 1990, the business was renamed as Colombo Stock Exchange. CSE introduced Central Depository System and clearing was automated by that. In 1995 CSE headquarters was opened at WTC, Colombo.

The Colombo Stock Exchange (CSE) has 297 companies representing 20 business sectors as at 31st December 2018, with a Market Capitalization of Rs. 2,839.45Bn. 

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