Luminex Limited goes public | Page 3 | Sunday Observer

Luminex Limited goes public

26 June, 2022
 Chairman Dr. Harsha N. De Silva
Chairman Dr. Harsha N. De Silva

Following the completion of the IPO process, the shares of Luminex Limited (Code: LUMX-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on June 23.

The shares have been listed on the Diri Savi Board of the CSE under the ‘2010 – Capital Goods’ sector. The occasion was marked with a Bell Ringing ceremony at the Trading Floor.

Executives of Luminex Limited, including Chairman Dr. Harsha N. De Silva, Managing Director Ruwan Fernando, and Director and CEO Upul Lekamge, were present.

Financial advisor and manager to the issue Navara Capital, which guided Luminex Limited through the listing process, was represented by Chief Operating Officer Jayasankha Alahendra and the members of the engagement team.

The CSE was represented by its Chief Executive Officer, Rajeeva Bandaranaike, Chief Regulatory Officer, Renuke Wijayawardhane, and the CSE Senior Management.

CSE CEO Rajeeva Bandaranaike congratulated Luminex Limited on its initiative to go public.

“Luminex is our fifth equity listing for 2022. We are pleased to have well established companies from diverse backgrounds represented on the CSE and offers investors diverse options when investing in the local stock market.”

Apart from assisting with raising capital, the stock market also enables companies to discover a price for their shares by unlocking value and thereby creating wealth for its shareholders. It also instills good governance practices and transparency through the compliance framework at the CSE.

Chairman of Luminex Limited, Dr. Harsha N. De Silva, said, “Over the past 35 years, the company has grown to be a formidable force in the telecom infrastructure and general engineering fields. Last year, the company reported a turnover of 3.1 billion rupees and a profit after tax of 489 million rupees.

“We have a staff strength of 570 who operate from 29 operation centres across the country. Luminex is also an ISO 9001 certified company and holds an EM 1 grade from the Construction Industry Development Authority (CIDA), which speaks well of the professionalism of the company and its people.

“We are also very pleased and happy with the successful conclusion of the IPO, even during some of the most difficult times Sri Lanka has ever faced. We are encouraged by the response and would like to say a special thank you to all the investors who placed confidence in the company,” he said.

“As a team, we strongly believe in the resilience of the Sri Lankan economy and its people. We are determined as a company more than ever to go ahead and to make our contribution to the Sri Lankan economy even during these difficult times.

“Luminex will strive to do our part as a good corporate citizen and provide the necessary backing for the people and the Government in any way we can.

“We are confident about the resilience of the CSE and the value proposition it offers and would like to encourage everyone by our example not to be disheartened and discouraged by the negative market sentiments but to make use of the opportunities available,” he said.

A listing on the CSE is a hallmark of prestige - an affirmation of a company’s commitment towards ensuring the highest standards of corporate governance and transparency.