By: Staff Writer
September 19, Colombo (LNW): ACS Capital, formerly known as Nation Lanka Equities, is embarking on a global mission to attract international investors to the Colombo Stock Exchange (CSE), starting with a strategic rebranding. Under the leadership of Asanga Seneviratne, a prominent business leader and former Director at the CSE, the company seeks to leverage the recovering Sri Lankan economy to capture new opportunities.
Seneviratne, who previously served as CEO of Asia Capital for 19 years, is recognized for his extensive contributions to both the business and sporting sectors in Sri Lanka. Together with ACS Capital’s Chief Operating Officer, Ralph Wijesinghe, Seneviratne co-founded the CDAX platform, Sri Lanka’s first online trading system introduced to brokerage firms in 2003.
In discussing the rebranding, Seneviratne explained that the move reflects a proactive strategy aimed at positioning ACS Capital to take advantage of Sri Lanka’s improving market conditions. As the country’s economy shows signs of recovery, the firm aims to align its identity with the future growth prospects.
ACS Capital CEO Hussain Gani, who previously held senior positions at Softlogic Investments and Asia Securities, emphasized that the rebranding is just the beginning. According to Gani, this initiative is part of the company’s broader commitment to innovation, global outreach, and responsiveness to the evolving needs of its investors.
Ryan Thineth, the company’s strategist, highlighted the need to differentiate ACS Capital from its past affiliations with Nation Lanka, a relationship that ended in 2015. Thineth stated that the timing and necessity of the rebranding were carefully considered, ultimately concluding that this step was essential to meet the company’s long-term growth objectives.
ACS Capital has deep roots in Sri Lanka’s stock market, originally starting as a subsidiary of Commercial Bank before being acquired by the Ceylinco conglomerate and eventually evolving into its current form. The company holds one of the first fifteen licenses issued to stockbroking firms by the Colombo Stock Exchange.
The market conditions in Sri Lanka are increasingly favorable for companies looking to raise capital. With rising investor activity and a growing appetite for initial public offerings (IPOs), the environment is primed for companies seeking to raise equity. Furthermore, the introduction of new financial products, such as sustainable bonds and infrastructure bonds, offers companies more options for capital infusion.
The Colombo Stock Exchange has also diversified its offerings, providing three listing boards: the Main Board, Diri Savi Board, and Empower Board. These cater to companies of various sizes and capital requirements.
The CSE has introduced additional boards, such as the Catalist Board for state-owned enterprises and the Multi-Currency Board for foreign-listed companies seeking dual listings in Sri Lanka.
As ACS Capital moves forward with its rebranding and expansion strategy, it aims to capitalize on these favorable market dynamics while fostering innovation and global investor engagement.
