March 08, 2007	Thursday	Safar 18, 1428

COLOMBO, March 7: Sri Lanka invited overseas stockbroker firms on Wednesday to set up operations in the island in a bid to encourage more foreign participation in the tiny Colombo bourse.

“We are looking at broadbasing the market to attract more foreign investors and raise the skill levels in terms of equity research,” Colombo Stock Exchange Assistant General Manager Rajeeva Bandaranaike said.

Prospective foreign brokers or investment banks must incorporate as a company here and own at least 75 per cent equity in the new venture, the stock exchange said.—AFP