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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Access going to fall on our head.

Access going to fall on our head.

Go down  Message [Page 1 of 1]

1Access going to fall on our head. Empty Access going to fall on our head. Thu Feb 09, 2012 3:25 pm

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
500Mn IPO. Well timed. Good luck

2Access going to fall on our head. Empty Re: Access going to fall on our head. Thu Feb 09, 2012 3:59 pm

TortoizePlus

TortoizePlus
Manager - Equity Analytics
Manager - Equity Analytics
ගහෙන් වැටිච්ච මිනිහට ගොනා ඇන්න වගේ
I also heard a IPO from Sri Insuarance Holding
then it is
ගොනා ඇන්න මිනිහ මලා වගේ තමා

3Access going to fall on our head. Empty Re: Access going to fall on our head. Thu Feb 09, 2012 4:15 pm

prasa2004


Manager - Equity Analytics
Manager - Equity Analytics
waiting to see which broker report say - SUBSCRIBE'

UNGEY AACHILATA.....

4Access going to fall on our head. Empty Re: Access going to fall on our head. Thu Feb 09, 2012 9:20 pm

lokuayya


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
machan, now we are finished .. at least we should do a social service now for the future investing fools.

120 million shares given free of charge to staff.

so can you imaging what kind of selling pressure would arise? dont fall in a another scam guys.

5Access going to fall on our head. Empty Re: Access going to fall on our head. Fri Feb 10, 2012 6:21 pm

econ

econ
Global Moderator
@lokuayya wrote:machan, now we are finished .. at least we should do a social service now for the future investing fools.

120 million shares given free of charge to staff.

so can you imaging what kind of selling pressure would arise? dont fall in a another scam guys.

yeah this will be a disaster .. they gave away 120 million shares free to the employers and now try to give it retailers at 25 rupees.... and also one of the managers to this issue is highly unethical investment bank jhon keels capital( promoters of highly unethical IPOs such as Expolanka and softlogic ).. so retailers please do not buy this IPO.. please give it to so called HNWIs.. pls do not trap on these kind of IPOs.. you can buy secondary marked at well bellow price of IPO..
However, I am sure some of the brokers will give 'subscribe' message by showing some unattainable future profit forecasts..

6Access going to fall on our head. Empty Re: Access going to fall on our head. Fri Feb 10, 2012 6:30 pm

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@lokuayya wrote:machan, now we are finished .. at least we should do a social service now for the future investing fools.

120 million shares given free of charge to staff.

so can you imaging what kind of selling pressure would arise? dont fall in a another scam guys.
CSE has become the Garage of companies.Is there any point of having that so called Watchdog ?

7Access going to fall on our head. Empty Re: Access going to fall on our head. Fri Feb 10, 2012 6:32 pm

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@prasa2004 wrote:waiting to see which broker report say - SUBSCRIBE'

UNGEY AACHILATA.....

UNGEY ACHCHILATA NEME UNTA HENA GAHANNA ONE. PAW... ACHCHILATA MONAWATH KIYANNA EPA Very Happy . BTW,BAD SIGN. Evil or Very Mad Shocked

8Access going to fall on our head. Empty Re: Access going to fall on our head. Mon Feb 13, 2012 3:22 pm

Expert

Expert
Manager - Equity Analytics
Manager - Equity Analytics
I too suspect this IPO.

Private placement: Rs. 4.5b - 180m shares
Gift to employees: worth Rs. 3b - 120m shares
IPO: only Rs. 0.5b - only 20m shares

And their accounting figures are for 2010/11. Quite old by now. Are they going to dump this 20m on us (may be knowing their finances are not that good in 2011/12) and let the others profit by selling their shares?

If they needed this Rs.500m, why did they just gift Rs.3b worth of shares? Why didn't they sell?

Only positive is PP price is as same as IPO price.

From the DailyFT artile on, Access Engineering braves bearish market; to list via Rs. 500 m IPO in March

Access Engineering Ltd. is braving the bearish market conditions as well as some recent weak demand for new offerings with a Rs. 500 million Initial Public Offering (IPO) next month.
The Colombo Stock Exchange (CSE) said yesterday it has approved in principle an application by Access Engineering to list on the Diri Savi Board with an offer for subscription of 20 million shares at Rs. 25 each.
The official opening of the IPO is 6 March whilst investors can subscribe to the offer from 22 February.


Financial advisors and lead managers to the offer is NDB Investment Bank Ltd., and co-managers are John Keells Capital. Registrars to the offer is P.W. Corporate Secretarial Ltd.

The IPO follows a successful conclusion of a Rs. 4.5 billion (180 million shares at Rs. 25 each) private placement mid last year followed by Access founder Sumal Perera together with two other co-founders of Access Engineering Ltd., Ranjan Joseph and Christopher Joshua, gifting a combined 15% (120 million shares) of their personal stakes to the 1,100 staff of the Company. At Rs. 25 per share the stake is worth Rs. 3 billion.
From a Group turnover of Rs. 2.4 billion in 2007/8 financial year, Access Engineering has grown to Rs. 3.6 billion in 2010/11. Its gross profit had grown from Rs. 553 million to Rs. 1.3 billion over the four years. Net profit after tax in 2010/11 amounted to Rs. 1.167 billion, which is a three-fold increase in comparison to Rs. 327 million achieved in 2007/8 financial year. Group assets have grown from Rs. 1.9 billion to Rs. 5.76 billion.
Over 80% of the projects handle by Access Engineering are multilateral or bilateral donor funded which gives security to a healthy cash flow situation for the company. With more projects in the pipeline as well as those which are being planned the company sees good prospects. The infusion of Rs. 4.5 billion via the private placement has made the balance sheet stronger to tap the high growth potential as well as embark on new innovative projects.


http://www.ft.lk/2012/02/10/access-engineering-braves-bearish-market-to-list-via-rs-500-m-ipo-in-march/

9Access going to fall on our head. Empty Re: Access going to fall on our head. Mon Feb 13, 2012 4:32 pm

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Expert wrote:
Only positive is PP price is as same as IPO price.
Even TJL offered same price as PP. Look at the price now. We may collect much less than the IPO price, if it's listed during the bearish market.

10Access going to fall on our head. Empty Re: Access going to fall on our head. Tue Feb 14, 2012 10:51 am

bakapandithaya

bakapandithaya
Vice President - Equity Analytics
Vice President - Equity Analytics
This is foolish decision 2 list now.

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Access Engineering Limited (AEL), one of the country’s leading construction enterprise, is an integrated engineering company which stands in the forefront of developing large and complex infrastructure development projects utilizing innovative and state-of-the-art technological solutions in all its construction projects.

To date the company has been involved in a diverse range of construction and infrastructure projects in varied sectors such as roads and highways, bridges and flyovers, water and waste management, harbours and marine work, dredging and reclamation, telecommunication, irrigation and land drainage, piling and environment and waste management. Many of these projects have been of very high national priority in Sri Lanka’s attempt to improve its infrastructure to international standards.

The company has also been involved in some of the largest infrastructure development projects in the country, funded by the World Bank, Asian Development Bank, JBIC-Japan, SIDA-Sweden, DANIDA-Denmark and ECGD-United Kingdom, etc. Other major projects undertaken by AEL include the Dehiwela, Kelaniya and Nugegoda flyovers, the Aluthgama, Udawalawe, Beruwela, Hambantota and Batticaloa Water supply projects, raising of the Unnichchai tank, implementation of a fibre optic network and rehabilitation of the A9 road.

Speaking about the achievements and future prospects of the company, Sumal Perera, Chairman of AEL said "We believe that to meet the expectations of all our stakeholders and the country at large, the Engineering and Construction industry has a major role to play. In order to do so, it was important for the company to enhance its capacity and by broad-basing its ownership with a 18% private placement (Rs.4,500 million) and 2% IPO stake (Rs.500 million) in addition to making its employees co-owners of the company, by gifting a 12% staketo them (Rs. 3 billion), we believe that the company has been able to create a very strong platform and now poised to benefit from the many infrastructure development, engineering and construction projects taking place in the country."

In addition to the private placement by which the company raised Rs.4,500 million in June 2010, it has now got approval from the SEC/CSE for an initial public offering of 20 million new shares at Rs.25/- each amounting to a total of Rs. 500 million (at the same price the private placement shares were issued) which will be a 2% stake in the post IPO stated capital. The issue opens on 6th March 2012 and will close on 9th March 2012 unless already over subscribed.

Established in 2001, Access Engineering Limited has established itself as a leading construction company offering innovative value engineering solutions comprising design, procurement, construction and commissioning of numerous multi disciplinary engineering projects for both the Government and private sector of Sri Lanka. Over this short span of existence AEL has carved out a name and stature for itself in the civil engineering sector of the country which has resulted in the company seeing continuous unprecedented growth while leveraging proficiency and competencies it possesses to generate value for its stakeholders. It has also in its short period of existence won many construction industry and national business excellence awards.
Island 16-02-2012
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=45350

12Access going to fall on our head. Empty Re: Access going to fall on our head. Thu Feb 16, 2012 3:30 pm

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
If JKSB is managing the issue, I am staying a mile away from this.

Reason: They are the ones who put shit on the poor guys plate with softlogic, expo shit.

13Access going to fall on our head. Empty Re: Access going to fall on our head. Thu Feb 16, 2012 7:57 pm

warren_sri


Stock Trader
this company is mainly engaged in governments projects. government is delaying payments.... they must have some cash flow problems.. high interest... supply chain problems... time value of the recivebles

14Access going to fall on our head. Empty Re: Access going to fall on our head. Thu Feb 16, 2012 8:38 pm

Market Sucker

Market Sucker
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
at the trading day....-NO ACCESS or ACCESS DENIED Smile
be careful,let HNWI to subscribe Twisted Evil

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