SBI Holdings, Inc. based in Tokyo and provide investment products, primarily Sri Lankan bonds, through its subsidiary, SBI SECURITIES to the Japanese Market plans to acquire 20% of Wealth Trust Securities(WTS) .
WTS is a licensed primary dealer in government securities appointed by the Central Bank of Sri Lanka, with direct access to both the primary and secondary government securities markets, and has the ability to participate in the issuance of local and foreign currency-denominated bonds. Moreover, WTS ranks amongst the top five primary dealers in Sri Lanka with an eminent Board of Directors led by Dr. Anura Ekayanake, Chairman, Dammika Ranawana, Managing Director and Directors Mangala Boyagoda, Senaka Weerasooria and Ruwan Cooray with Viraj Malawana functioning as Consultant International Markets for the Company.
WTS possesses a broad customer network that has been built through long-standing operation as well as an exemplary research department which publishes market reports in the leading newspapers in addition to providing its customers with in-depth and prudent market analysis.
The SBI Group intends to collaborate with WTS to promote Sri Lankan government securities and corporate debt as high yield investment instruments to Japanese investors through SBI SECURITIES.
The Sri Lankan Bond market is showing aggressive growth from its relatively small scale which heralds an optimum time for SBI to enter the market. The SBI Group has previously acquired a stake of First Guardian Equities Pvt. Limited of Sri Lanka and is currently promoting equity transactions on the Colombo Bourse to its Japanese clients. With this recent acquisition, SBI SECURITIES promises to be a prominent player in both the debt and equity markets.
This partnership with WTS comes after the Japanese conglomerate showed keen interest in marketing Sri Lankan government securities and corporate debt to its vast portfolio of clients in Japan.
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