Japan's SBI Holdings buys into Sri Lanka's Wealth Trust Securities
Sep 22, 2017 05:23 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - SBI Holdings, a Japan based investment group said it is buying a 20 percent state in Sri Lanka's Wealth Trust Securities (WTS), a licensed primary dealer in government bonds.
"The SBI Group is planning to distribute bonds, such as Sri Lanka n government bonds and corporate bonds, as high- yield bond products , toward Japanese individual investors through SBI SECURITIES , by purchasing those products in collaboration with WTS," the firm said in a Tokyo stock exchange filing.
Wealth Trust ranks amongst the top five primary dealers in Sri Lanka and has a broad customer network, the statement said.
SBI said it already had an investment in First Guardian Equities (Pvt) Ltd in Sri Lanka, which is a share broking firm.
"…[B]y investing in WTS, the SBI Group will be able to access to both the equity and bond markets of Sri Lanka, " the firm said.
Sri Lanka's bond markets are expected to grow fast as the sector is comparatively small SBI said.