Capital Alliance PLC, abbreviated as CALT, is a

primary dealer A primary dealer is a firm that buys government securities directly from a government, with the intention of reselling them to others, thus acting as a market maker of government securities. The government may regulate the behaviour and number of i ...

in Sri Lanka. The company is a subsidiary of Capital Alliance Holdings Ltd. Capital Alliance Holdings Group is an

investment bank Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

. The company was incorporated in 2000 as Capital Asia Markets Ltd, a subsidiary of Asia Capital Ltd. The company changed its name to Capital Alliance Limited two years later. In 2003, Capital Alliance obtained a primary dealer licence from the

Central Bank of Sri Lanka The Central Bank of Sri Lanka ( CBSL; ), known until 1985 as the Central Bank of Ceylon, is the central bank of Sri Lanka. It was established in 1950 under the Monetary Law Act No.58 of 1949 (MLA) and in terms of the Central Bank of Sri Lanka Ac ...

. Following an initial public offering, the company was listed on the Colombo Stock Exchange in December 2021. Capital Alliance is ranked among the 100 most valuable brands in Sri Lanka.

History

The company was incorporated in 2000 as Capital Asia Markets Ltd, a subsidiary of Asia Capital Ltd. The company started with an LKR21 million share capital, and Ajith Fernando was the managing director. The company changed its name to Capital Alliance Limited in 2002 after a change in ownership. In 2003, Capital Alliance obtained a primary dealer license from the Central Bank of Sri Lanka. In the wake of the government of Sri Lanka's gearing up to open new casinos in 2013, Capital Alliance cautioned that casinos alone would not boost

tourism in Sri Lanka Sri Lanka is a popular tourist destination. Tourism is a key industry that attracts international tourists yearly. Foreigners visit Sri Lanka to see nature, wildlife, historical monuments, and indigenous culture. In 2018, tourist arrivals peaked ...

. The company also highlighted the fact of the government's failure to set up a gaming regulatory authority. Capital Alliance won four awards at the 2015

Global Banking & Finance Awards Global Banking and Finance Awards was started in 2011 by the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast ...

, including the best investment bank in Sri Lanka award. In 2016, Capital Alliance acted as the

sell side Sell side is a term used in the financial services industry to mean providing services to sell securities. Firms or institutions on this side include investment banks, brokerages and market makers, who facilitate offering securities to investors, ...

advisor in the deal of

Hayleys Hayleys PLC, founded in 1878 by Charles Pickering Hayley, is a multinational and diversified conglomerate (company), conglomerate company in Sri Lanka, publicly listed on the Colombo Stock Exchange with business spanning over 16 sectors, catering ...

acquiring 75% of the stake in Fentons. The transaction was valued at LKR960 million.

Kasturi Chellaraja Wilson Kasturi Angela Chellaraja Wilson (born 7 January 1969) is a Sri Lankan businesswoman and the chief operating officer of 5hour International Corporation. She holds positions as a non-executive director at Capital Alliance Holdings Limited a ...

was appointed to the board of directors of the company in 2018. At the time of her appointment, she was acting as the managing director of Hemas Holdings. Capital Alliance introduced its new logo in 2020. With the launch of the new logo, the company also emphasised its new strategy of serving

family-owned business A family business is a commercial organization in which decision-making is influenced by multiple generations of a family, related by blood, marriage or adoption, who has both the ability to influence the vision of the business and the willingne ...

es. The company entered the Bangladesh market in 2021 with an investment agreement with BetaOne Investments Ltd. BetaOne Investments Ltd is a merchant bank in Bangladesh. Capital Alliance announced its initial public offering (IPO) in November 2021. The IPO opened on 25 November 2021 and was oversubscribed on its opening day itself. The company offered a 12.5% stake in the company which was valued at LKR412 million. Following the IPO, the shares of the company debuted on the

Colombo Stock Exchange The Colombo Stock Exchange (CSE) (; ) is the main stock exchange in Sri Lanka that utilizes an electronic trading platform. The CSE headquarters have been located at the World Trade Center (Colombo) Towers in Colombo since 1995, and it has regi ...

on 15 December 2021.

Operations

Capital Alliance is one of the five non-bank primary dealer companies in the country. Capital Alliance brand is one of the 100 most valuable brands in the country. Brand name CAL ranked 95th in Brand Finance rankings in 2023. The company was ranked 88th in 2022. Capital Alliance entered into the ''LMD'' 100 second board rankings for the first time in 2023, owing to the fact of increasing its earnings to LKR4.720 billion in 2023 compared to LKR508 million earnings in 2022. ''LMD'' 100 is an annual ranking of listed companies by revenue.

Capital Alliance Holdings Group

Capital Alliance Holdings Ltd is the parent of the company. The major shareholders of Capital Alliance Holdings in 2011 were Jetwing Travels (36.73%), Ashthi Holdings (36.41%), W. A. T. Fernando (13.21%), and R. J. Arasaratnam (11.76%). Capital Alliance Finance PLC (now known as Dialog Finance PLC) and Ceylon Tea Brokers PLC were subsidiaries of the Capital Alliance Group.

Cargills Bank Cargills Bank PLC is a licensed commercial bank in Sri Lanka. It received its license from Central Bank of Sri Lanka to operate domestic and offshore banking business on 21 January 2014 and was ceremonially opened on 30 June 2014. At present the b ...

acquired Capital Alliance Finance in 2014. Cargills Bank bought 70% of shares in the company for a consideration of LKR420 million.

References

External links

* {{Coord, 6, 55, 09.4, N, 79, 51, 02.8, E, display=title 2000 establishments in Sri Lanka Companies listed on the Colombo Stock Exchange Financial services companies of Sri Lanka Financial services companies established in 2000 Primary dealers

History

Operations

Capital Alliance Holdings Group

See also

References

External links