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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Stay Away from Peoples' Leasing IPO

Stay Away from Peoples' Leasing IPO

Go down  Message [Page 1 of 1]

1Stay Away from Peoples' Leasing IPO Empty Stay Away from Peoples' Leasing IPO Wed Nov 02, 2011 9:48 pm

dineshfernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Guys! This is one of the massive IPOs of CSE history. The biggest problem is that it's 7BN rupees in value.

At present market daily average turnover is around Rs. 500 million. The present market is having serious liquidity problem. Not enough cash coming in to the market. Foreigners are exiting too.

This will create huge selling pressure from the first day of trading of PLC. As a result the price will come down considerably within couple of days. Therefore, I feel you can buy PLC shares in the open market at least at a 25% discount than IPO price.

This is my personal view and not a recommendation.

2Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 8:22 am

OneRupee


Equity Analytic
Equity Analytic
@ dinesh

Your point is valid.
I am not a believer of IPOs in the current market.

3Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 9:06 am

LongTerm


Senior Equity Analytic
Senior Equity Analytic
@dineshfernando wrote:Guys! This is one of the massive IPOs of CSE history. The biggest problem is that it's 7BN rupees in value.

At present market daily average turnover is around Rs. 500 million. The present market is having serious liquidity problem. Not enough cash coming in to the market. Foreigners are exiting too.

This will create huge selling pressure from the first day of trading of PLC. As a result the price will come down considerably within couple of days. Therefore, I feel you can buy PLC shares in the open market at least at a 25% discount than IPO price.

This is my personal view and not a recommendation.

Hi Dinesh,

I tend to disagree to your view on getting it at a 25% discount.

That means the share has to trade at 13.50, which is a bit ridiculous.

There will be very little retail appetite for this share, which means it will only be institutional and (hopefully) foreign subscription.

So if it is fully subscribed from these parties, there will be minimum selling on the first day, since most of these parties have a longer term investment horizon than a retail investor.

So I don't expect it to fly, at the same time it won't drop 25% either as you have suggested.

4Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 9:38 am

yellow knife


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hi Guys

If you don't subscribe that's your decision...Yet if u want to buy , I think its your last day to buy at the IPO price...If most of you wait to collect on the first day at a lower price (which will not happen as pointed out above) means there will be buying pressure...Unless the subscribers make a decision to voluntarily make a loss there wont be a selling pressure...

It seems everyone is interested in buying PLC shares...Only thing is some are making predictions...
1. It wont subscirbe...now that idea is invalid
2. IPO opens in a blood bath....now it s on a greener path
3. Now you want to buy on first day at a lower price.....BE ON SAFER SIDE...IF YOU WANT TO BUY , BUY AT THE IPO PRICE..

5Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 12:18 pm

Niwa


Manager - Equity Analytics
Manager - Equity Analytics
He he it has been over subscribed!

6Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 12:18 pm

wmdcf

wmdcf
Manager - Equity Analytics
Manager - Equity Analytics
SSP Corporate Services (Pvt.) Ltd, Registrars to the above Offer, has informed the CSE that the above IPO has been oversubscribed.^ ^ SSP Corporate Services (Pvt.) Ltd has also informed the CSE that the issue would be closed at 4.30 p.m. today (03rd November 2011).^ ^ The announcement will be published on the CSE website (www.cse.lk) shortly.^ ^

7Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 12:23 pm

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
With the help of the state funds like EPF and SLIC, PLC was always going to be oversubscribed

But for those of us without such deep pockets, the decision to invest or not requires more investigation.

Short term traders looking for Singer Finance and Odel kind of 100% day one returns may be disappointed.

Longer term investors must decide how valuations compare with other banking sector stocks such as Sampath Bank, Nations Trust etc, which have come down sharply recently. PLC is not priced very aggressively in terms of valuations, but with recent dip in market, there may be even better options in the secondary market, which are more familiar to investors.

8Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 12:27 pm

Niwa


Manager - Equity Analytics
Manager - Equity Analytics
I think PLC IPO has been a reason for mkt down tern. It would have sucked CSE money.

9Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 12:48 pm

anubis


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
http://www.lbo.lk/fullstory.php?newsID=1785609233

10Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 12:56 pm

investor.sl

investor.sl
Senior Equity Analytic
Senior Equity Analytic
Oversubscribed.....

11Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 1:24 pm

yellow knife


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hi Guys

Its overscribed and officially announced....More details will soon be there I think...They have bought a substantial amount in foreign investment... Its something we all can be proud of ...That's what the market need now...

Congratulations ..

We salute those who were behind this successful IPO...Even when the market sentiment was negative , they went for this largest IPO..instead of introduction they were sure of their movement....Its what matters...

Even those who predicted that ITS A MIRACLE IF IT GETS FULLY SUBSCRIBED can now utilize their money without any fear...Few more hours left...take your decision now...

12Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 2:04 pm

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Lots of promotional posts from 'yellow knife' and 'LongTerm' on the Peoples Leasing IPO it seems Wink

13Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 2:09 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
PLC was a decently priced IPO unlike SHL and EXPO. With government backing for PLC it is solid company and the interest would be more from institutions and larger investors who has holding power.It was advertised abroad also.

Now regarding the first day price, it all depends on market sentiments. Even if big boys don;t sell low, our retailers might started selling low if they panic due to market situation.

Though PLC was attractive I did not apply . After looking at what happened to TJL which was also a decent IPO , it is okay to be cautious.

But he who buys companies like PLC will be very rich in 10 to 20 year time. Question is which retailers have the patience to wait?

14Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 3:44 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
I smell some thing with "yellow knife". Insider????

One of our good friends in forum once said this; "You Can take a donkey to water but can't make it drink..."

Anyways, like any other IPO there's no magic behind getting this oversubscribed Wink Lot of institutional power could've brought it to that stage... Possible we can hear abt that too..

If our retailers have applied to this, I guess they should open up margin trading facilities to hold on to the share...

The company is good, had decent backup from PB and a lot of govt institutes might've been allotted a lot too.. so they wont sell. However our investors/traders will..

I think I can go for some very long term investment 5-10 yrs may be if I buy some shares from market for 17,16 or less Wink

15Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Thu Nov 03, 2011 3:46 pm

Niwa


Manager - Equity Analytics
Manager - Equity Analytics
@cse.alpha wrote:With the help of the state funds like EPF and SLIC, PLC was always going to be oversubscribed

But for those of us without such deep pockets, the decision to invest or not requires more investigation.

Short term traders looking for Singer Finance and Odel kind of 100% day one returns may be disappointed.

Longer term investors must decide how valuations compare with other banking sector stocks such as Sampath Bank, Nations Trust etc, which have come down sharply recently. PLC is not priced very aggressively in terms of valuations, but with recent dip in market, there may be even better options in the secondary market, which are more familiar to investors.
you can start your investigation now. how we can name parties even before the declaration of method for allocating shares. the communication simply says it has been over subscribed. your argument is valid if PLC went for a PP instead of IPO. as someone mentioned earlier, its always safe bulk been purchased by Institutions and HNIVs. shl and vone had been over priced, shl real value might be at 15. all at SEC and CSE are responsible for allowing over priced IPOs.

16Stay Away from Peoples' Leasing IPO Empty Re: Stay Away from Peoples' Leasing IPO Fri Nov 04, 2011 9:43 am

yellow knife


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Another line of predictions...Lets wait until more information is received

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