| Initial
Public Offering (IPO)
Globally this year, telecommunications
companies experienced sharply falling share prices.
Here in Sri Lanka, the year
2001 was an "annus horribilis" - almost
every sector of business was negatively affected
by stagnation of the economy and a first ever
negative growth.
Such an environment was not
conducive for SLT to contemplate going for a Public
Offering hence we regretfully had to shelve any
such plans.
We are very hopeful that a general
brightening in the economic climate for 2002 may
lead to an IPO next year.
Shuhei Anan
Chief Executive Officer
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