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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Free Lanka Capital Holding-Over subscribe

Free Lanka Capital Holding-Over subscribe

+4
Rajitha
limestone
swan03
kiri
8 posters

Go down  Message [Page 1 of 1]

kiri

kiri
Manager - Equity Analytics
Manager - Equity Analytics

http://www.cse.lk/cmt/upload_cse_announcements/241300339404_.pdf

swan03


Vice President - Equity Analytics
Vice President - Equity Analytics

kiri wrote:http://www.cse.lk/cmt/upload_cse_announcements/241300339404_.pdf

Aiyoo, mekunth 100 vitarai da? Mad

kiri

kiri
Manager - Equity Analytics
Manager - Equity Analytics

swan03 wrote:
kiri wrote:http://www.cse.lk/cmt/upload_cse_announcements/241300339404_.pdf

Aiyoo, mekunth 100 vitarai da? Mad
No minimum is 2000. so they will allocate 2000 shares Very Happy

swan03


Vice President - Equity Analytics
Vice President - Equity Analytics

kiri wrote:
swan03 wrote:
kiri wrote:http://www.cse.lk/cmt/upload_cse_announcements/241300339404_.pdf

Aiyoo, mekunth 100 vitarai da? Mad
No minimum is 2000. so they will allocate 2000 shares Very Happy

Sounds good to me sunny

limestone

limestone
Manager - Equity Analytics
Manager - Equity Analytics

It will be interesting to see whether the retaliers are goint to get a better deal this time . the 50% allocation given in the prospectus can now be a "minimum of 40%" as per CSE directive .

limestone

limestone
Manager - Equity Analytics
Manager - Equity Analytics

Contd..
and the retailer category has moved up from "up to 50,000 RS(10,000 shares)" to "up to 3000 shares or RS 100,000 which ever is higher"

Rajitha

Rajitha
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

kiri wrote:
swan03 wrote:
kiri wrote:http://www.cse.lk/cmt/upload_cse_announcements/241300339404_.pdf

Aiyoo, mekunth 100 vitarai da? Mad
No minimum is 2000. so they will allocate 2000 shares Very Happy
Actually minimum number that you can apply is the 2000 shares. they still can allocate even 100 shares if it has been way over subscribed! Considering the market situation, share volume and 50% allocation to retailers though there is a really high chance people who applied for small amounts might get almost all of what they applied for!

Fresher


Moderator
Moderator

I think they have promised allocating at least 2000 shares, but there is a break even point in case of a massive over subscription which is highly unlikely

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

i have a pretty good feeling that retail customers will get the total amount they have applied for because of the new allocation rules.
and don't think it's because people have lost interest in IPOs it's because retailers are protected from the bank guarantee mafia.

limestone

limestone
Manager - Equity Analytics
Manager - Equity Analytics

Those who have applied for upto 20,000/- shares are categorized as retailers .
Total number of shares available for subscription is 300,000,000
40% of above is 120,000,000 .
if one retailer is going to get 2000 shares minimum, the possible number of maximum (“cut –off”) retailer applications is 120,000,000/2000= 60,000

For UB there were 63,111 applications of which 57,613 applied for 5000 shares or less.

Rajitha

Rajitha
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

limestone wrote:Those who have applied for upto 20,000/- shares are categorized as retailers .
Total number of shares available for subscription is 300,000,000
40% of above is 120,000,000 .
if one retailer is going to get 2000 shares minimum, the possible number of maximum (“cut –off”) retailer applications is 120,000,000/2000= 60,000

For UB there were 63,111 applications of which 57,613 applied for 5000 shares or less.

I think you missed a point or a decimal point ( Either one) there. What if 7000 people applied for 20000 shares? they also are categorized as retail investors and for that alone they need = 140 000 000 shares which is more than the allocated amount according to you ( I think its 50% though as said in prospectus). So theoretically even with about 7000-10000 applications the amount allocated for retailers could be over subscribed. ( although i guess many retailers applied for minimum or a number around there )

Fresher


Moderator
Moderator

can someone explain this.
this cay not be realistic but it is not impossible

50% of an issue exactly subscribed by non-retailers (above 100,000/- applications)
50% of the balance is oversubscribed many times by retailers & unit linked funds
how does the allocation work here?
will the non-retailers get their allotment without a problem where the retailers will have to 'fight it out' again?

2011_NewComer

2011_NewComer
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

npp wrote:can someone explain this.
this cay not be realistic but it is not impossible

50% of an issue exactly subscribed by non-retailers (above 100,000/- applications)
50% of the balance is oversubscribed many times by retailers & unit linked funds
how does the allocation work here?
will the non-retailers get their allotment without a problem where the retailers will have to 'fight it out' again?

A minimum of 40% for retailer and a minimum of 10% for unit trust. So in such a case(unlikely to happen) they can increase this percentage. right? That's my understanding, may be wrong.

Fresher


Moderator
Moderator

That's what I want to know. Since as far as I know there's is no such provision for that rite?
If it's increasing the percentage, by how much? how to make a balance?


Another important thing that struck my mind just now is that now we know that the FLC IPO is oversubscribed.
But the question is is it by both categories? or just by the amount of non-retail investors?

It could be that 30% applications from retail category and the balance from non-retail category.
SO in general I want to know,
in such a case, in future IPOs will they close the subscription for one category only? How will this work?
Anyone got ideas?

2011_NewComer

2011_NewComer
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Interesting Smile

Me too have a question.
In the Free Lanka IPO if some one applied for 20,000 shares. He is a retailer. If another person applied for 25,000 or 30,000 he is in the other group.

In such a case (if the retail group is not oversubscribed and the other group is oversubscribed - a possible scenario) would those who applied for 25,000, 30,000 or even 50,000 get a lesser value than 20,000?

I mean should people like me (who buy only with cash) should always stick to the retail category? What will happen if we apply for a amount little more than the retail category? Question

limestone

limestone
Manager - Equity Analytics
Manager - Equity Analytics

What I wanted to point out is that, in case we have the same scenario as in the case of UB, retailers may get only 2000/= each .
But the manages can still increase the quota as 40% is only the minimum quota for retailers .
even if a person who applies for 20,000 shares , 2000 shares is 10% . I don’t think that the big investors would get this percentage anyway . because only 2 people are needed to oversubscribe the non retailer category where as at least 6000 (120,000,000/20,000)applicants are needed to oversubscribe the retailer category .

17Free Lanka Capital Holding-Over subscribe Empty free lanka oversubscribed 125 times? Mon Mar 21, 2011 10:17 pm

own


Equity Analytic
Equity Analytic

How many times over subscribed? 125 or more?

Fresher


Moderator
Moderator

own wrote:How many times over subscribed? 125 or more?
where did u get this from?
seems a rather impossible number

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