BOC is coming

Roboticfx · 1 BOC is coming Sat Nov 19, 2011 8:56 am

Roboticfx

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BOC is a professional and a large government bank in sri lanka is listing in cse soon. They have issued 40 Mn shares @ Rs.100 for each. It will do a big change to the as it's a popular and valuable share. But share price is little bit high. Prospectus is also good as my knowledge. Need expert ideas.

Note: Bad thing is arriving of several big ipos will reason for a further down.

Rajaraam · 2 Re: BOC is coming Sat Nov 19, 2011 8:58 am

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Robo, was there an announcement pl.

kasper · 3 Re: BOC is coming Sat Nov 19, 2011 9:06 am

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ROBO, DID U MEAN THIS ISSUE OF 40,000,000 FIVE YEAR DEBENTURES???

Roboticfx · 4 Re: BOC is coming Sat Nov 19, 2011 11:04 am

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Rajaraam wrote:Robo, was there an announcement pl.

I didn't see the announcement. But it is on the cse homepage.

dindon1 · 5 Re: BOC is coming Sat Nov 19, 2011 11:11 am

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Its about debentures

sriranga · 6 Re: BOC is coming Sat Nov 19, 2011 12:19 pm

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http://forum.srilankaequity.com/post?p=83568&mode=quote

sriranga wrote:Colombo Stock Exchange has approved the listing of the Bank of Ceylon’s proposed Rs. 5 billion debenture issue on the bourse.
The debt securities will be listed on the main board of the CSE.
BOC is planning to offer up to 50 Million Unsecured Redeemable Debentures at an issue price of Rs. 100 each.
Check the following story published by News360.lk on an earlier occasion covering the proposed debenture issue.

By: Prasanna C. Rodrigo
Sri Lanka’s state banking giant BOC is planning to raise Rs. 5 billion or a figure closer to that via a subordinated debenture issue to finance its future growth plans.
A senior official of the Bank said, the issue will take place either in end October or early November.
Another source closely working on the matter revealed that the proposed debenture which will be listed on the Colombo Stock Exchange will have a 5 year tenor.
There will be three debenture types issued such as A, B and C.
“Type A” is likely to pay a 11% fixed interest rate per annum on the principal sum payable annually at the expiry of every one year from the date of allotment of the Debentures.
“Type B” is likely to pay a floating rate of interest of 0.75% above the weighted average six months Treasury bill interest rate at the primary auction and paid bi-annually.
“Type C” will target foreign investors and is expected to have an interest rate of 2% above Sri Lankan five Treasury bond rate.

bakapandithaya · 7 Re: BOC is coming Sat Nov 19, 2011 12:42 pm

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Y they r coming?

WildBear · 8 Re: BOC is coming Sat Nov 19, 2011 12:57 pm

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Robo Just woke up from a bad dream it seems Razz

Slstock · 9 Re: BOC is coming Sat Nov 19, 2011 1:01 pm

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Roboticfx,

As others pointed out you are refering to a debenture issue. Not an IPO. If BOC come as an IPO at an attractive price, I might seriously consider investing in it. But ofcourse the valuation and market sentiments at that time needs to be considered

dewminigamlath · 10 Re: BOC is coming Sat Nov 19, 2011 5:35 pm

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It's not an IPO. It's a debenture issue of Rs. 5 billion. They did a similar issue about 5 years back and presented the subscribers an interest rate as high as 17%. The thing is, those days it wasn't a very high rate, but it was valid for 5 years within which period interest rates of bank accounts and FDs dropped significantly.