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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » SFCL no sellers

SFCL no sellers

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1SFCL no sellers Empty SFCL no sellers Tue Mar 22, 2011 9:21 am

dimithri


Equity Analytic
Equity Analytic
Why???

2SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 9:42 am

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
@dimithri wrote:Why???

People are willing to buy at 200 when company is saying its value is Rs.20.00
Quite amazing
crazy people... i wonder whether company related parties ahs put these buy order while they are hlding all the share without selling just to push up the prices.

3SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 9:52 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@salt wrote:
@dimithri wrote:Why???

People are willing to buy at 200 when company is saying its value is Rs.20.00
Quite amazing
crazy people... i wonder whether company related parties ahs put these buy order while they are hlding all the share without selling just to push up the prices.

Yes do not get caught to these ploys.

4SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 9:59 am

DK


Manager - Equity Analytics
Manager - Equity Analytics
I was about to say what salt said. People must be either stupid or mad. Anyway you can't enter orders for SFCL yet on CDAX Web. When I called them up they said they'll check up and get back.

5SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 10:19 am

sugandika

sugandika
Equity Analytic
Equity Analytic
I got to know that none of the existing share holders have lodged their shares today. That's why the share is not available. Sometimes the share will be available tomorrow.

6SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 10:20 am

banarahu

banarahu
Manager - Equity Analytics
Manager - Equity Analytics
amazing... will see whats going on....

7SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 10:23 am

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics
@banarahu wrote:amazing... will see whats going on....

It is very clear whats going on.. Refer the comment by Salt. This is exactly what is happening..

http://forum.srilankaequity.com/u188

8SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 10:31 am

StocksWatch


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@salt wrote:
@dimithri wrote:Why???

People are willing to buy at 200 when company is saying its value is Rs.20.00
Quite amazing
crazy people... i wonder whether company related parties ahs put these buy order while they are hlding all the share without selling just to push up the prices.

Agree with you. Don't get caught to these traps.

9SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 10:41 am

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
This could be worst than CDB. Study well before touch this counter. I am going to just wait and see.

10SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 10:43 am

banarahu

banarahu
Manager - Equity Analytics
Manager - Equity Analytics
@milanka wrote:
@banarahu wrote:amazing... will see whats going on....

It is very clear whats going on.. Refer the comment by Salt. This is exactly what is happening..

yes,
http://forum.srilankaequity.com/t2017-senkadagala-finance
advisor also mentioned it yesterday...

thnx... Very Happy

11SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 11:07 am

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
http://forum.srilankaequity.com/t1942-senkadagala-finance-company-limited-tarding?highlight=senkadagala

***
SFCL's unaudited net profit for 9 months ended 31st December 2010 was Rs161 million, which gives a 9 month EPS of Rs3.

Its shareholder funds as at 31st dec 2010 were Rs1,029 million, which gives a book value of Rs19 per share.

Buyer beware.

12SFCL no sellers Empty Re SFCL listing...! Tue Mar 22, 2011 11:19 am

CSE Today

CSE Today
Manager - Equity Analytics
Manager - Equity Analytics
I'm confused....!
If the existing stake holders are not willing to trade their shares on secondary market ...Why on earth the Company submitted an application to float the shares on CSE...?

Still yesterday SFCL was a privately owned company and so on ... there could not be hundreds of thousands of share holders... so the Board of directors should have talk to those stake holders before floating SFCL on CSE...! Also this is a good lesson to CSE & SEC too...the authorities also should have carefully evaluate the commitment of the existing stake holders when they opt for an Introductions instead of an IPO...!

OR is this non trading situation is due to 1 year Lock-up rule of the SEC on private Placements...!

13SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 11:30 am

2011_NewComer

2011_NewComer
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@CSE Today wrote:I'm confused....!
If the existing stake holders are not willing to trade their shares on secondary market ...Why on earth the Company submitted an application to float the shares on CSE...?

Still yesterday SFCL was a privately owned company and so on ... there could not be hundreds of thousands of share holders... so the Board of directors should have talk to those stake holders before floating SFCL on CSE...! Also this is a good lesson to CSE & SEC too...the authorities also should have carefully evaluate the commitment of the existing stake holders when they opt for an Introductions instead of an IPO...!

OR is this non trading situation is due to 1 year Lock-up rule of the SEC on private Placements...!

Yes. that's the question I also have. If they don't want to sell why did they go for a introduction Question

I think there are only 19 share holders and half of them seems to be family members.

That one year thing is for private placements done after this year april right? As I can remember.

14SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 11:39 am

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
SFCL got 'listed' because it had to...as per the Central Bank directives for all deposit mobilising financial institutions to be listed this year. Other firms in this category that are planning listings are Mercantile Investments, LOLC Finance, Swarnamahal Financial, Commercial Credit etc.

The 'listing' though seems just for the record to meet regulatory purposes, with the company just barely meeting the Second Board listing criteria of 10% free float. And over 7% of that is with two senior management persons.

But with buyers now up to Rs200 per share, may be the Balasuriya family will sell a few shares.

15SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 11:43 am

econ

econ
Global Moderator
I dont think these finance companies want to list their shares. it is because rule introduce by SEC that those companies had to list.
so they may not sell thier holdings. result will be highly illiquid nature and pure manupulation.

16SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 12:23 pm

Meta Trader

Meta Trader
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@econ wrote: I dont think these finance companies want to list their shares. it is because rule introduce by SEC that those companies had to list.
so they may not sell thier holdings. result will be highly illiquid nature and pure manupulation.

By now many of those family members must be tempted to sell their shares at Rs 200 and take them back again at below Rs 20 Idea

just have a look at the order book

Order Book : SFCL.N0000 Senkadagala
Total Bids : 58,272,000 Total Asks : 0

17SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 12:31 pm

Rajitha

Rajitha
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Meta Trader wrote:
By now many of those family members must be tempted to sell their shares at Rs 200 and take them back again at below Rs 20 Idea

just have a look at the order book

Order Book : SFCL.N0000 Senkadagala
Total Bids : 58,272,000 Total Asks : 0

Sorry but there is no way in hell you going to buy this at below Rs 20 unless with huge selling pressure and even then it should bounce back considering the shares the share holders might be willing to let go!
SFCL's unaudited net profit for 9 months was Rs161 million, which gives a 9 month EPS of Rs3.
Its book value is around1 Rs19 per share.

So I would value this between Rs 40 -75 considering the rest of the companies in the sector!

18SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 12:53 pm

Meta Trader

Meta Trader
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Rajitha wrote:
@Meta Trader wrote:
By now many of those family members must be tempted to sell their shares at Rs 200 and take them back again at below Rs 20 Idea

just have a look at the order book

Order Book : SFCL.N0000 Senkadagala
Total Bids : 58,272,000 Total Asks : 0

Sorry but there is no way in hell you going to buy this at below Rs 20 unless with huge selling pressure and even then it should bounce back considering the shares the share holders might be willing to let go!
SFCL's unaudited net profit for 9 months was Rs161 million, which gives a 9 month EPS of Rs3.
Its book value is around1 Rs19 per share.

So I would value this between Rs 40 -75 considering the rest of the companies in the sector!

yep. that would be carnage
no one want to mess up family business.
i wish all the best for the above company .

19SFCL no sellers Empty SFCL Tue Mar 22, 2011 4:35 pm

advisor


Senior Equity Analytic
Senior Equity Analytic
very carefull... The company hold more than 90% of shares ... They will try to match and sell suddenly.. So keep your buy order under 30/= level

20SFCL no sellers Empty Re: SFCL no sellers Tue Mar 22, 2011 6:28 pm

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics
@Monster wrote:This could be worst than CDB. Study well before touch this counter. I am going to just wait and see.

my thoughts exactly. That was a disaster.

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