SMOT Crossing 3.6 Millions shares

Slstock · 1 SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 11:53 am

Slstock

Director - Equity Analytics

Posts : 6610
Equity Stars : 13374
Reputation : 1158
Join date : 2011-01-22

Looks like sale done by ITOCHU CORPORATION. 59.66% of shares.

Internal selling or otherwise? Lets see.

Gaja · 2 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:02 pm

Gaja

Associate Director - Equity Analytics

Posts : 3127
Equity Stars : 9681
Reputation : 260
Join date : 2011-01-27
Age : 40
Location : Colombo

its interested to see, if it is not an internal transfer then who is going to be the new owners

Monster · 3 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:02 pm

Monster

Senior Vice President - Equity Analytics

Posts : 1708
Equity Stars : 8182
Reputation : 279
Join date : 2011-01-22

Gaja wrote:its interested to see, if it is not an internal transfer then who is going to be the new owners

Interesting to see..

Slstock · 4 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:06 pm

Slstock

Director - Equity Analytics

Posts : 6610
Equity Stars : 13374
Reputation : 1158
Join date : 2011-01-22

Monster wrote:

Gaja wrote:its interested to see, if it is not an internal transfer then who is going to be the new owners

Interesting to see..

If another foreign buyer did not buy it it is going to be a big foreign outflow.

Gainer · 5 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:23 pm

Gainer

Associate Director - Equity Analytics

Posts : 3451
Equity Stars : 10947
Reputation : 264
Join date : 2011-03-13

SMOT takeover at 235.00 tommorow it will break 300.00 watch all of motor sectors UML good for buy

kelum · 6 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:36 pm

kelum

Senior Equity Analytic

Posts : 74
Equity Stars : 4822
Reputation : 7
Join date : 2011-06-01
Age : 42
Location : dubai

buyer is access.....

Slstock · 7 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:41 pm

Slstock

Director - Equity Analytics

Posts : 6610
Equity Stars : 13374
Reputation : 1158
Join date : 2011-01-22

Access takes control of Sathosa Motors

The Access Group, which went public with their subsidiary Access Engineering last week, on Wednesday acquired a majority controlling stake in Sathosa Motors PLC, brokers said. The company bought a 60% stake from Sathosa’s main shareholder, Itochu
Corp. Japan in late afternoon trade on Wednesday, they said. Some 3.6 million shares in the company at Rs 235 million per share were traded in a negotiated deal, they said, adding that the total transaction was concluded at Rs 846 million.

As at 31.12.2011, Itochu Corporation held 3.6 million shares of Sathosa Motors, which is a 59.7% stake. The origin of Sathosa Motors goes back to 1962, where the Isusu Agency was secured by the Co-operative Wholesale Establishment in 1962. (DEC)

source : Timesonline

Monster · 8 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:46 pm

Monster

Senior Vice President - Equity Analytics

Posts : 1708
Equity Stars : 8182
Reputation : 279
Join date : 2011-01-22

Leading businessman Sumal Perera’s Access Engineering secured the controlling stake of Sathosa Motors PLC (SMOT), the agents for the Isuzu vehicle range in Sri Lanka,in a deal to the tune of Rs.846 million.
Accordingly, Access Engineering bought 3.6 million shares of SMOT, each at Rs.235 from Japan’s Itochu Corporation in one crossing on the Colombo Stock Exchange a while ago.

“We see a lot of synergies between Sathosa Motors and Access Engineering, specially with us being one of the leading engineering companies in the country,” Sumal Perera, revealing the rationale behind the deal told Mirror Business.

http://www.dailymirror.lk/news/17191-access-acquires-control-of-sathosa-motors.html

kelum · 9 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:54 pm

kelum

Senior Equity Analytic

Posts : 74
Equity Stars : 4822
Reputation : 7
Join date : 2011-06-01
Age : 42
Location : dubai

That mean thay will give a mandatory offer?

Rajaraam · 10 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:58 pm

Rajaraam

Vice President - Equity Analytics

Posts : 1208
Equity Stars : 6041
Reputation : 113
Join date : 2011-07-01

Monster wrote:Leading businessman Sumal Perera’s Access Engineering secured the controlling stake of Sathosa Motors PLC (SMOT), the agents for the Isuzu vehicle range in Sri Lanka,in a deal to the tune of Rs.846 million.
Accordingly, Access Engineering bought 3.6 million shares of SMOT, each at Rs.235 from Japan’s Itochu Corporation in one crossing on the Colombo Stock Exchange a while ago.

“We see a lot of synergies between Sathosa Motors and Access Engineering, specially with us being one of the leading engineering companies in the country,” Sumal Perera, revealing the rationale behind the deal told Mirror Business.

http://www.dailymirror.lk/news/17191-access-acquires-control-of-sathosa-motors.html

I think this is a very good timely turnaround. Curremar marketing and overall service of SMOT is very poor. May be Sri lankans could do it better like in the case of LOLC.

Gaja · 11 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 1:04 pm

Gaja

Associate Director - Equity Analytics

Posts : 3127
Equity Stars : 9681
Reputation : 260
Join date : 2011-01-27
Age : 40
Location : Colombo

http://www.cse.lk/cmt/uploadAnnounceFiles/2361330499914_696.pdf

mono · 12 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 1:05 pm

mono

Vice President - Equity Analytics

Posts : 1167
Equity Stars : 6292
Reputation : 93
Join date : 2011-01-21
Age : 102

hmm...

so net foreign selling today

maalinda · 13 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 1:19 pm

maalinda

Manager - Equity Analytics

Posts : 254
Equity Stars : 5155
Reputation : 15
Join date : 2011-01-27

Sumal Perera is the chairmen of SMOT from early 2000 as i know...

aj · 14 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 2:02 pm

aj

Assistant Vice President - Equity Analytics

Posts : 766
Equity Stars : 5439
Reputation : 45
Join date : 2011-11-25

What is a construction company has to do with a motor company?
The rationale is that In CSE what you have is a handful of individuals just owning and controlling everything.

Gaja · 15 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 2:22 pm

Gaja

Associate Director - Equity Analytics

Posts : 3127
Equity Stars : 9681
Reputation : 260
Join date : 2011-01-27
Age : 40
Location : Colombo

http://www.cse.lk/cmt/upload_cse_announcements/1501330502760_.pdf

mono · 16 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 2:43 pm

mono

Vice President - Equity Analytics

Posts : 1167
Equity Stars : 6292
Reputation : 93
Join date : 2011-01-21
Age : 102

aj wrote:What is a construction company has to do with a motor company?
The rationale is that In CSE what you have is a handful of individuals just owning and controlling everything.

SMOT is the agent for ISUSU. a Vehicle brand heavily used in the construction sector

Gainer · 17 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 2:58 pm

Gainer

Associate Director - Equity Analytics

Posts : 3451
Equity Stars : 10947
Reputation : 264
Join date : 2011-03-13

SMOT mandatory offer at 235.00 possible it can go up 300 levels

aj · 18 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 3:33 pm

aj

Assistant Vice President - Equity Analytics

Posts : 766
Equity Stars : 5439
Reputation : 45
Join date : 2011-11-25

mono wrote:

aj wrote:What is a construction company has to do with a motor company?
The rationale is that In CSE what you have is a handful of individuals just owning and controlling everything.

SMOT is the agent for ISUSU. a Vehicle brand heavily used in the construction sector

Well if Access buys a tile factory or a paint factory you can reason the same way. Construction company should concentrate on construction work. That should be there main expertise, they can't do vehicle sales. Vehicles are one of the tools they and everybody uses. You can say the same thing if CIC buys the company saying that CIC has to transport the harvest. If RCL buys they also need to transport tiles.
Same thing can be said about all the companies that try to (hope to in press releases) own hotels? I
think Sri Lankan companies have no clear direction. It's just the individuals collecting their wealth.
What would Buffett say? Smile

Slstock · 19 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 3:38 pm

Slstock

Director - Equity Analytics

Posts : 6610
Equity Stars : 13374
Reputation : 1158
Join date : 2011-01-22

aj wrote:

mono wrote:

aj wrote:What is a construction company has to do with a motor company?
The rationale is that In CSE what you have is a handful of individuals just owning and controlling everything.

SMOT is the agent for ISUSU. a Vehicle brand heavily used in the construction sector

Well if Access buys a tile factory or a paint factory you can reason the same way. Construction company should concentrate on construction work. That should be there main expertise, they can't do vehicle sales. Vehicles are one of the tools they and everybody uses. You can say the same thing if CIC buys the company saying that CIC has to transport the harvest. If RCL buys they also need to transport tiles.
Same thing can be said about all the companies that try to (hope to in press releases) own hotels? I
think Sri Lankan companies have no clear direction. It's just the individuals collecting their wealth.
What would Buffett say?

Sumal Perera is the Chairman of SMOT. Looks like he might have some other vested interest to gain control in addtion to what is stated

Monster · 20 Re: SMOT Crossing 3.6 Millions shares Mon Mar 05, 2012 2:00 pm

Monster

Senior Vice President - Equity Analytics

Posts : 1708
Equity Stars : 8182
Reputation : 279
Join date : 2011-01-22

There is another crossing of 1 million shares at Rs 235/-. It could be an internal transfer better access group or Mr. R. M. Nanayakkara is selling to Access. As of December 2011 Mr. R. M. Nanayakkara holds 1.16 million shares in his portfolio.

Sponsored content

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Latest topics

SMOT Crossing 3.6 Millions shares

1 SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 11:53 am

Slstock

2 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:02 pm

Gaja

3 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:02 pm

Monster

4 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:06 pm

Slstock

5 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:23 pm

Gainer

6 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:36 pm

kelum

7 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:41 pm

Slstock

8 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:46 pm

Monster

9 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:54 pm

kelum

10 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 12:58 pm

Rajaraam

11 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 1:04 pm

Gaja

12 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 1:05 pm

mono

13 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 1:19 pm

maalinda

14 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 2:02 pm

aj

15 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 2:22 pm

Gaja

16 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 2:43 pm

mono

17 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 2:58 pm

Gainer

18 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 3:33 pm

aj

19 Re: SMOT Crossing 3.6 Millions shares Wed Feb 29, 2012 3:38 pm

Slstock

20 Re: SMOT Crossing 3.6 Millions shares Mon Mar 05, 2012 2:00 pm

Monster

21 Re: SMOT Crossing 3.6 Millions shares

Sponsored content

New topics