Jun 04, 2019

Mahaweli Coconut Plantations lists on CSE

Mahaweli Coconut Plantations LTD (CODE: MCPL) rang the market opening bell yesterday (03) to commence trading on the Colombo Stock Exchange (CSE) at a special market opening ceremony organized to mark the company listing its shares on the CSE.

The shares, which were listed by way of an equity introduction on the Diri-Savi board of the CSE has been classified under the ‘Plantations’ Sector.

Managing Director Mr. Felix Fernandopulle, Directors Prof. T.S.G Fonseka, Mr. M.A.C.H. Munaweera and the Senior Management represented Mahaweli Coconut Plantations LTD at the event. The CSE was represented by Chairman Mr. Ray Abeywardena, Director Mr. Shanil Fernando, CEO Mr. Rajeeva Bandaranaike and its Senior Management. Merchant Bank of Sri Lanka and Finance PLC, the managers to the introduction was represented by Chief Manager Ms. Lalangi Gonawardena and other senior representatives.

The Chairman of CSE Mr. Ray Abeywardena speaking at the event congratulated the company on achieving the milestone of a public listing and stated that the Mahaweli Coconut Plantations marks a unique addition to the capital market, as it is the first agriculture-based coconut plantation to be listed on the CSE. Mr. Ray Abeywardena went on to state that a strong commitment from the leadership and across the organization is pivotal in the lead up to a listing and also to continue delivering the responsibilities of being a listed entity. “The fact that Mahaweli Coconut Plantations is here today demonstrates the vision of the ownership of the company to achieve greater heights, and to do so with the involvement of the Sri Lankan investment community,” he added.

MCPL Managing Director Mr. Felix Fernandopulle speaking at the ceremony stated that the company has had a consistent growth trajectory since inception, where Mahaweli Coconut Plantations even in the recent past has outperformed the national average of the number of coconuts produced per hectare. Mr. Fernandopulle urged all prospective shareholders to have faith in the strong management and vision of the company, stating that the company is committed to creating and maintaining optimum value for shareholders.

Mahaweli Coconut Plantations Limited (MCPL) was incorporated in 1996 to undertake a mega plantation project using uncultivated land in the Mahaweli zone. Presently MCPL harvesting an annual crop of around 05 Million coconuts which are being sold to Sri Lankan companies for manufacture of Desiccated Coconuts, Coconut Cream, Coconut Milk and Coconut Water solely for export purposes.

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