Sri Lanka It's Happening

July 7, 2005

Today marks the day when the first billion dollar company makes it's way to the Colombo Stock Exchange. Dialog Telekom, undoubtly the best of the Sri Lankan telecoms and arguable one of the best in Asia opened their IPO today.

Chances are the IPO has already been oversubcribed. Because Sri Lankan IPOs are usually snapped up on the first day, investors big and small have a habit of sending in their applications before the opening day it would be a big suprise if those applications alone do not make account for all the shares on offer.

Not everyone is equally enthusiastic about the issue though, many people specially those unfamiliar with technology companies believe the issue is heavily over priced. On the other hand techies like this author believe the share is at a huge bargain. Where else but in IT can you get consistent double digit growth?

The misconception among the non geeks is created partly by two companies that are currently listed on the stock exchange that pretend to be techonology companies. I doubt if their directors have even heard of google but these companies have not laid a good foundation for others to follow.

Posted by raditha at July 7, 2005 3:33 AM