Sri Lanka plots IPOs, ABS in market push

Ravi Karunanayake, Sri Lanka’s finance minister, says the government is cooking up some mega deals for investors.

Sri Lanka has ambitious plans to develop its capital markets, the country’s finance minister told FinanceAsia on Thursday. This includes a handful of IPOs from state-owned companies and a bold idea to securitise billions of dollars of government debt.

The South Asian country is in the midst of a furious reform drive in its capital markets, considering ideas ranging from separate boards on its stock exchange for small- and medium-sized enterprises to the all-important introduction of a central counterparty system. But the government appears keenly aware that, in the capital markets, it is deals that count. It is now plotting a series of headline-grabbing transactions that will hit...

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