CTC Opens Trading at Sri Lanka CSE!
The leading manufacturer of tobacco products in Sri Lanka, Ceylon Tobacco Company PLC (CTC) opened trading on the Colombo Stock Exchange (CSE) today.
This event was yet another in a series of Market Opening Ceremonies, featuring the companies from the S&P SL20 index, the CSE said in a release.
“We have a long lasting relationship with the Colombo Stock Exchange, as a listed entity for more than 60 years, since 1952. We consider being a listed company on the Colombo Stock Exchange a privilege. Being listed adds to our value, mainly in terms of governance, reporting and transparency. I would like to see other companies listing – to make (the Stock Exchange) more vibrant as one of the leading Frontier Markets in the region,” Managing Director and Chief Executive Officer of the Ceylon Tobacco Company PLC Mr. Felicio Ferraz said.
“Investing in the Stock Market is a risky business, but you can get a high return if you understand what you are doing and invest in the right companies. I was happy to see, that when I arrived here in 2013, our share price was at Rs. 800 and after a year it reached Rs. 1400. I know that our industry is a controversial one, which is why we need to give a higher return and thus we pay 100 per-cent dividend on our profits. This is seen through the market cap that we have on the Stock Exchange,” he added.
Managing Director and Chief Executive Officer Mr. Felicio Ferraz, Finance Director Mr. Stephan Matthiesen, Marketing Director Mr. Rajiv Meewakkala, Corporate and Regulatory Affairs Director Mr. Dinesh Dharmadasa, Supply Chain Director Mr. Shah Mansoor Khalil, Human Resources Director Ms. Samanmali Chandrasiri and Legal Director Mr. Ranjan Seneviratne from CTC and Chairman Mr. Vajira Kulatilaka, Director Mr. M.R.Prelis, CEO Mr. Rajeeva Bandranaike and the Senior Management from the CSE took part in the Market Opening Ceremony.