The forum aimed to empower companies in the ICT sector by exploring alternative funding sources and raising awareness about the process of going public in today’s dynamic market environment.
Supported by USAID’s CATALYZE Private Sector Development initiative, this event covered a range of topics aimed at enhancing investor awareness.
Highlights included an introduction to capital markets and alternative funding options for IT firms, insights into investor expectations, and the benefits of listing with the Colombo Stock Exchange.
Attendees also gained valuable knowledge about the regulatory landscape, compliance requirements for going public, and success stories shared by industry leaders.
Mr. Dinesh Saparamadu, Founder and Chairman of hSenid Group of Companies, and Mr. Jiffry Zulfer, Founder and CEO of Digital Mobility Solutions Lanka (Pvt) Ltd (PickMe), which recently raised LKR 1.6 billion through its stock exchange listing, shared their perspectives on navigating the listing process.
PickMe’s successful listing underscores the significant potential for growth and investment in Sri Lanka’s ICT sector.
Speaking on behalf of the CSE, Mr. Dilshan Wirasekara, Chairman, CSE noted,
“The top five companies globally by market capitalization are IT-focused, highlighting the vast potential of this sector. In Sri Lanka, the IT industry ranks as the third-largest export contributor, generating $1.5 billion in 2023 and employing over 150,000 skilled professionals.
Growing over 300% in the past decade, it’s a key driver of economic progress and digital transformation.
By tapping into capital markets, IT companies can secure vital investment, supporting further growth and contributing to national prosperity.”
“The United States through USAID understands how crucial the ICT sector is to Sri Lanka’s economic growth and prosperity,” said USAID Acting Mission Director Justin DiVenanzo in a statement.
“That is why USAID is working with the CSE to help the sector gain access to funding through capital markets.
We know the sector not only drives innovation and job creation but also provides numerous employment opportunities for women.”
During the event, Mr. Venkadesh Ramraj, Assistant Vice President, Investment Banking at CT CLSA, delivered a comprehensive presentation titled “Understanding Capital Markets, Funding Options for IT/ICT Companies and Benefits of Listing on the CSE.”
The forum concluded with an interactive panel discussion and Q&A session.
The panel featured Mr. Dinesh Saparamadu; Mr. Jiffry Zulfer; Mr. Venkadesh Ramraj; and Mr. Dilshan Wirasekara.
This session, moderated by Ms. Punyamali Saparamadu, Senior Vice President - Commercial at the CSE, provided an opportunity for participants to seek clarifications and engage directly with the experts.
Photo Caption Ms. Punyamali Saparamadu, Mr. Venkadesh Ramraj, Mr. Dilshan Wirasekara, Mr. Dinesh Saparamadu, and Mr. Jiffry Zulfer.