CDS enables digital applications for IPOs
CDS stepped forward with their registrar services for IPOs of companies listing on the CSE, initiating with Chrissworld Limited which opened on 27th April 2021 and closed on the same day after been oversubscribed. This marks another milestone, since Chrissworld Limited is the first Empower Board listing of the CSE.
The CDS continues digital application services to facilitate Prime Lands Residencies Limited Equity IPO which will open on 11 th May 2021.
CDS has introduced this new feature parallel to the Stock Market digitalization process and expansion of their service offerings. This is an addition following many other digitalized processes introduced in the past such as e-Dividend and e-Rights on the eService platform.
Commenting on the initiative Mr. Nalin Fonseka, Head of CDS, stated “Time is a valuable resource for any industry. Since the CDS is the sole custody of records of investors and listed companies, it is our belief that completion time of an IPO must be reduced. The eIPO applications solution would benefit the existing listed companies as well as new companies intending to enter the Stock Market. Issuers cann take advantage of the facility for any future Issues/ IPO’s upon forwarding a request to the CDS”