Shares of leading mobility solutions app, PickMe owner Digital Mobility Solutions Lanka Ltd., will debut today for trading at the Colombo Stock Exchange following its highly successful Initial Public Offering (IPO).
The shares of the Company amounting to 333, 323, 673 would be listed on the Main Board of the CSE with Security Code PKME-N-0000 and will be classified under “20304040 – Passenger Ground Transportation.” sector.
The IPO involved issuance of shares worth Rs. 1.56 billion (43,474,179 existing ordinary voting shares at Rs. 36 each), and when it closed on the opening day itself on 13 September, the demand had been for shares worth Rs. 4.2 billion. The shareholding percentage on offer is 13.04%. There had been 866 applications requesting for 116.646 million shares worth Rs. 4.199 billion.
Ahead of today’s debut, Digital Mobility Solutions Chairman Ajit Gunewardene said: “We are thrilled to mark this pivotal moment as our company goes public, as we bring our vision of technology enabled, accessible, reliable mobility to even more communities. This listing represents not only a milestone for us, but a commitment to pioneering digital inclusion using advanced technology across Sri Lanka.”
CEO Jiffry Zulfer said: “PickMe will offer investors a new dimension, exposure into the digital economy. We will be the first and at this point in time the only technology company of scale to be listed on the CSE. It has been an exciting journey so far and having reached an inflection point, we are confident that we can continue to generate strong profitable growth. Our long term goal is for our app to become ubiquitous in everyday life. We have the team and the skills to execute this.”
(ft.lk)
(Except for the headline, this story, originally published by ft.lk has not been edited by SLM staff)
CEAT OHT Lanka (Pvt) Limited, a wholly owned subsidiary of CEAT Limited, India, has reassured employees that their jobs are secure following the acquisition of the CAMSO brand’s off-highway construction equipment bias tyre and tracks business from Michelin Lanka (Pvt) Ltd.
The holding company, CEAT Ltd. of Mumbai, India, announced in December 2024 that a definitive agreement had been signed for the acquisition. This includes the Midigama plant. the Casting Product Division in Kotugoda and some parts of other divisions providing central services.
To formalize the transition, a tripartite Memorandum of Understanding (MoU) was signed on May 22, 2025, between CEAT OHT Lanka, Michelin Lanka, and the Inter Company Employees Union.
The agreement guarantees 100% job security, preservation of past service, seniority, remuneration, and employee benefits.
However, employees of Michelin Lanka in Midigama, Matara, recently protested claiming that their jobs were at risk due to the sale.
CEAT, operating in over 120 countries, emphasized its commitment to employee welfare and workplace satisfaction, affirming it will honor all obligations under the agreement and actively invest in business growth.
CEAT, listed on the Mumbai Stock Exchange and part of the RPG Group, is a leading manufacturer of tyres for cars, buses, trucks, motorcycles, scooters, and off-highway vehicles.
CEAT had previously acquired Kelani Tyres, a fully state-owned enterprise in 1993, which was considered as a controversial deal facilitated by Ranil Wickremesinghe.
The government has completed all necessary procedures to launch Starlink services in Sri Lanka, says Deputy Minister of Digital Economy Eranga Weeraratne.
According to Deputy Minister Weeraratne, once the expected information dashboard is received from Starlink, the service could be launched without any operational delays.
He made this statement while attending a bilateral meeting organized by the Sri Lankan High Commission in Singapore, held alongside the 2025 Tech Summit Asia in Singapore.
The matter was discussed during a meeting between Deputy Minister of Digital Economy Eranga Weeraratne and Ambassador Stephan Lang, the United States’ Coordinator for International Communications and Information Policy at the U.S. Department of State.
During the meeting, several strategic areas were also discussed.
Ambassador Lang emphasized the importance and urgency of these initiatives, describing them as both challenging and essential for Sri Lanka’s digital future. He reiterated the United States’ continued commitment to supporting Sri Lanka in implementing these transformative digital policies and programs.
(adaderana.lk)
(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)
Sri Lanka’s 02 main domestic gas suppliers, Litro Gas and Laugfs Gas, have confirmed that there will be no price revision for domestic LP gas cylinders this month.
Both companies stated that gas cylinders will continue to be sold at existing prices.
