Co-Operative Insurance Company Limited debuts trading on the CSE
Sat, Jan 1, 2022, 10:40 am SL Time, ColomboPage News Desk, Sri Lanka.
Jan 01, Colombo: The shares of Co-Operative Insurance Company Limited (CODE: COOP-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on the 30th December 2021.
The shares have been listed on the Diri Savi Board of the CSE under the “Multi-line Insurance” sector. The occasion was marked with a special Bell Ringing Ceremony.
Representing Co-Operative Insurance, Chairman Susil Shantha Weerasekara, Vice Chairman Dharshana Samarawickrama, Director Thusitha Saman Palitha, Director Besil Senadira, Director P.B. Jayarathna, Director C.P. Jayasinghe and Consultant W.L.A. Peries attended the event.
The CSE was represented at the event by Chief Executive Officer, Rajeeva Bandaranaike and Chief Regulatory Officer, Renuke Wijayawardhane.
Speaking at the ceremony, the CEO of the CSE, Rajeeva Bandaranaike, congratulated Co-Operative Insurance on its initiative to go public. “Co-Operative Insurance gave a new definition to the Sri Lankan insurance industry by taking insurance to the villages and making it available to anyone and everyone. It is commendable and a great privilege to have the 3rd largest insurance provider listed on the CSE.”
Speaking at the event, the Chairman of Co-Operative Insurance, Susil Shantha Weerasekara, commented, “For 50 years, Co-operative insurance has been in this country and we have faced many challenges throughout our journey. Nevertheless, we have always focused on our vision of “to be an organization that will stand united with its customers to the very end” and serve the country and its people. This has been our vision from the beginning and the same will continue for years to come.”
Commenting on the event, Weerasekara thanked the CSE, MBSL, the director board and the consultants of Co-operative Insurance and all the investors for the support extended during the IPO. Speaking on the listing experience, he added, “We are indeed happy to see that the issued 10% shares were oversubscribed on the opening day itself and we are thankful to our investors for having such confidence in us.”