CSE invites CTC to ring opening bell

6 May 2015 04:12 am Views - 2143

The Colombo Stock Exchange (CSE) yesterday invited key officials of Ceylon Tobacco PLC (CTC), a unit of British American Tobacco, to take part in the bell ringing ceremony, which signaled the commencement of day’s trading. 

Managing Director and Chief Executive Officer Felicio Ferraz, Finance Director Stephan Matthiesen, Marketing Director Rajiv Meewakkala, Corporate and Regulatory Affairs Director Dinesh Dharmadasa, Supply Chain Director Shah Mansoor Khalil, Human Resources Director Samanmali Chandrasiri and Legal Director Ranjan Seneviratne from CTC and Chairman Vajira Kulatilaka, Director M.R.Prelis, CEO Rajeeva Bandranaike and the senior management from the CSE took part in the market opening ceremony. 

“We consider being a listed company in the Colombo Stock Exchange a privilege. This adds to our value, mainly in terms of governance and transparency,” Ceylon Tobacco Company PLC CEO/MD Felicio Ferraz said. 

“I was happy when I arrived last year here, our share was around Rs.800. After one year, it reached Rs.1400. We became the number one in terms of market cap for couple of weeks, overtaking John Keells” he added.

Ferraz also admitted that CTC is in a controversial industry. “That is why we need to give higher returns. That is why we pay 100 percent dividends of the profits.”

The first company that took part in the bell ringing ceremony was premier bluechip John Keells Holdings PLC. The company has the highest market capitalization in the CSE.  The CSE plans to invite the other companies in the S&P SL20 index as well to take part in this event in the future.