Softlogic Group sizzles Bourse

Softlogic Group sizzled the Colombo stock market yesterday with its firms responsible for Rs. 1.2 billion deals accounting for 68% of the total.

Softlogic Holdings (SHL) said that the company and its subsidiary Dai-Nishi Securities Ltd., sold their entire holding of 2.4 million shares (nearly 11% stake) in Asiri Central Hospital (ASHA) to Actis Investment Holdings SL Ltd. at Rs.250 per share for a total consideration of Rs. 604 million realising a capital gain of Rs. 288 million to the group.

SHL also announced that it purchased 81 million shares (9% stake) of Asiri Hospital Holdings (ASIR) at Rs. 7.50 per share for a total consideration of Rs. 608 million.

Softlogic Chairman Ashok Pathirage said the rational for entering into the transaction was to keep Softlogic Holdings Plc strategy of consolidation its stake in Asiri Hospital Holdings Plc.

The SHL’s purchase was from SSP Corporate Services, the trustees of Asiri Hospital Holdings Plc Employee Share Trust and the amount of Rs. 607.7 million exceeded 10% of the equity of the entity as per the audited financial statements for the year ended 31 March 2011.

Consequently to the deal SHL Group increased its ownership of ASIR to 61.87% with SHL holding 55.12% and the balance held by Group companies.

In total Asiri Hospitals saw 81.5 million of its shares traded for Rs. 611.75 million and Asiri Central Hospitals 2.41 million shares for Rs. 604.39 million, bringing the total to Rs. 1.2 billion.

Despite deals, Asiri Central (ASHA) closed 20 cents down whilst Asiri was down by 40 cents. Softlogic Holdings closed unchanged at Rs. 9.30 though it hit an intra-day high of Rs. 9.50.
http://www.ft.lk/2012/08/21/softlogic-group-sizzles-bourse/

Chanuque wrote:ASIR Is About To Take Off -
by Chanuque on Wed Jun 13, 2012 10:17 pm

Could someone in this forum confirm me whether there is an important party is interested of having a substantial stake of ASIR from the retail market .. ? And, the very same investor is using so called the bear tactics to collect from the bottom undetected .. ?

In this trade, the history always repeat ..
Secondly if you are thinking of having diversified conglomerate, you CAN NOT ignore health sector in Sri Lanka .. RGDS !

nuwank wrote:by nuwank on Thu Jun 14, 2012 9:50 am

ASIR - a great company that had a mandatory offer of 9 LKR by Softlogic.

K.Haputantri wrote:on Thu Jun 14, 2012 12:23 pm
If cash map is 98% it is a sign of buying pressure.

Chanuque June 14 2012 wrote:I am monitoring ASIR very closely since the split. This is one of the few shares did not nose dive....... Mandatory offer did not work out. An orchestration is going on to consolidate an interest of a major player .. !

SHL also announced that it purchased 81 million shares (9% stake) of Asiri Hospital Holdings (ASIR) at Rs. 7.50 per share for a total consideration of Rs. 608 million.

Softlogic Chairman Ashok Pathirage said the rational for entering into the transaction was to keep Softlogic Holdings Plc strategy of consolidation its stake in Asiri Hospital Holdings Plc.[/quote]