Dialog Axiata PLC marked a milestone — 20 years since its landmark listing on the Colombo Stock Exchange (CSE) in July 2005.
To commemorate this milestone, a ceremonial bell-ringing was held, attended by the senior management of Dialog and CSE.
Dialog’s Initial Public Offering (IPO) raised Rs. 8.5 billion and was oversubscribed 6.5 times — setting a record as the largest-ever IPO in the history of the CSE, a distinction it continues to hold to this day.
Access to Sri Lanka’s capital markets, supported by the strong governance framework enabled through its public listing, has played a key role in Dialog’s transformation into Sri Lanka’s largest telecommunications service provider, now connecting over 20 million Sri Lankans across mobile, broadband, television and enterprise services.
Dialog also remains the largest Foreign Direct Investor in Sri Lanka, with cumulative investments exceeding USD 3.37 billion.
These investments have supported the expansion of advanced digital infrastructure and services across the country, helping to bridge divides and foster inclusive development.
Over the years, Dialog has led a number of industry firsts — introducing South Asia’s first 3G network, launching Sri Lanka’s first 4G services, and becoming the first operator to trial 5G in the country.
Guided by its purpose and values, the company has remained focused on enabling progress and opportunity through technology.
Dialog is currently ranked #7 among listed companies on the CSE by market capitalisation and this journey has been supported by a broad base of over 23,000 shareholders, with 99.46% comprising Sri Lankan residents — underscoring local confidence in Dialog’s vision of enriching and empowering Sri Lankan lives and enterprises.
Notably, over 13,000 of the original IPO investors continue to hold Dialog shares today — reflecting enduring trust in the company’s vision and stewardship.
Rajeeva Bandaranaike, Chief Executive Officer of the Colombo Stock Exchange said, “We are here to mark a truly special occasion, one that reflects both the strength of the past and the potential of the future.
“Dialog’s IPO, which took place 20 years ago, remains an iconic event in the history of the Stock Exchange. It continues to hold records, not only for the size of the offering but, more importantly, for the number of new investors it attracted to the market.
“Over the past two decades, Dialog has remained at the forefront of innovation,” he said.
