Sri Lanka looks beyond euphoria
Stock markets are always a useful barometer of a national mood. The Colombo Stock Exchange is no exception: its All Share Price Index has doubled so far in 2009. On top of that, it’s also attracting IPOs.
The first post-war IPO was Hemas Power in September, which raised almost Rp2 billion ($17.4 million) and was 3.7 times oversubscribed; another, Seylan Bank, was in the markets at the time of writing. More will follow.
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