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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Debutant duo delights

Debutant duo delights

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1Debutant duo delights Empty Debutant duo delights Thu Sep 13, 2012 2:43 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
The two debutants on the Colombo stock market yesterday shined with sharp rises in their prices, though volumes of at least one were low.

By virtue of a 968% rise, George Steuart Finance topped the list of percentagewise gainers, whilst Asia Siyaka, with its 395% rise, was second.

George Steuart Finance saw its shares with a reference price of Rs. 20 opening trading at Rs. 200 hitting an intra-day high of Rs. 220 before closing at Rs. 213.70, up by Rs. 193.70. However, only 170 shares were transacted via 26 trades in a turnover of Rs. 36.3 million. GSF ended its debut with a market capitalisation of Rs. 4.8 billion.

The other debutant, Asia Siyaka, with a reference price of Rs. 2, started off with a price of Rs. 21.50 and peaked to Rs. 22 before closing the inaugural day at Rs. 9.90, up by Rs. 7.90.

Asia Siyaka was more active with 149,562 shares changing hands via 224 trades for Rs. 1.78 million. Its market capitalisation was Rs. 2.5 billion.

Both were listed via introduction and brought the number of companies listed on the CSE to 287.
http://www.ft.lk/2012/09/13/debutant-duo-delights/

2Debutant duo delights Empty Re: Debutant duo delights Thu Sep 13, 2012 4:08 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Redbulls wrote:
George Steuart Finance saw its shares with a reference price of Rs. 20 opening trading at Rs. 200 hitting an intra-day high of Rs. 220 before closing at Rs. 213.70, up by Rs. 193.70. However, only 170 shares were transacted via 26 trades in a turnover of Rs. 36.3 million. GSF ended its debut with a market capitalisation of Rs. 4.8 billion.


All these introductions become husband buying wife selling dramas... Twisted Evil

I wont be surprised if this hits 400 in few days..

See a 20 rupee nominal value company opens at 200.. Jeez how absurd these ppl are.. In real world these are the ones SEC should investigate.. At this rate the buyer is buying a company for a premium where the growth is expected in over 5 years nuh?

3Debutant duo delights Empty Re: Debutant duo delights Thu Sep 13, 2012 7:08 am

K.Haputantri

K.Haputantri
Co-Admin
@smallville wrote:
@Redbulls wrote:
George Steuart Finance saw its shares with a reference price of Rs. 20 opening trading at Rs. 200 hitting an intra-day high of Rs. 220 before closing at Rs. 213.70, up by Rs. 193.70. However, only 170 shares were transacted via 26 trades in a turnover of Rs. 36.3 million. GSF ended its debut with a market capitalisation of Rs. 4.8 billion.


All these introductions become husband buying wife selling dramas... Twisted Evil

I wont be surprised if this hits 400 in few days..

See a 20 rupee nominal value company opens at 200.. Jeez how absurd these ppl are.. In real world these are the ones SEC should investigate.. At this rate the buyer is buying a company for a premium where the growth is expected in over 5 years nuh?

Even if price band rule is operative, there is no upper limit on the first day of trading. They are using that loop-hole. Watch your steps. The floor is slippery.

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