Niwa wrote:any one know the issued shared quantity of TFIL? is it 6m?. directors have collected substantial amount in last couple of months. hope it will reach at least 27 very soon.
Trade Finance & Investments Limited (TFIL) is a small sized but profitable finance company commenced its operation in 1978 and licensed by the Central Bank of Sri Lanka. The principal lines of business in which the Company engages in include Finance Leasing, Hire Purchase, Security Loans, Personal Loans and acceptance of Fixed Deposits from the Public.
TFIL IPO Summary.
Number of shares offered Six Million (6,000,000)
Issue Price Rs 20.00
Minimum Subscription 1000 shares
Issue Opening Date 28th September 2011
Number of shares provisionally reserved for the Individual Retail category 2,400,000
Managers to the Issue
Capital Alliance Holdings Limited
Tel : +9411 2317777
Bankers to the Issue
Commercial Bank of Ceylon PLC
Tel : +9411 2486000/4486000/7486000/5486000
Objectives of the TFIL IPO
The main objective of TFIL IPO is to comply with the regulatory requirement set out by the Monetary
Board of the Central Bank of Sri Lanka to obtain a listing on the CSE.
IPO proceeds (Rs 120 Million) will be used to expand the current business activities of the company.
Subdivision of Shares
The Shareholders of the Company at its meeting held on 29th April 2011 resolved to sub divide
each existing share into ten (10) shares based on the shareholding as at 29th April 2011, thus
increasing the number of shares of the Company from 5,080,040 to 50,800,400.
Is it worth subscribing TFIL IPO?
My opinion is yes it is worth. TIFL has made a profit of Rs 63,555,452.00 for the year ended 31st March 2011. Earnings Per Share after sub division amounted to Rs 1.25. Therefore at issue price its Price Earnings Ratio is 16 times compared to current Market PE of 19x.
There was no Private Placement prior to IPO other than share transactions disclosed in TFIL IPO Prospectus Page Number 22.
5,080,040 shares of TFIL sold by Cooray Family to Mr. Toshiaki Tanaka for Rs 121,505,376.00 (Approximately Rs 23.92 per share) in July this year.
The risk of selling pressure below IPO price on first day of trading is very limited for TFIL IPO subscribers.
Please read the TFIL IPO Prospectus carefully before you make any investment decision.
Download TFIL Prospectus
http://www.cse.lk/270808/pdf/15_09_2011_TFIL_Pros.pdf
Download TFIL Application Form
http://www.cse.lk/270808/pdf/15_09_2011_TFIL_App.pdf
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