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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » How AAIC sale to foreign funds different from infamous TFC deal?

How AAIC sale to foreign funds different from infamous TFC deal?

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Jeremy

Jeremy
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
One could argue that there is no difference between failed TFC deal Vs the proposed Asian Alliance Insurance (AAIC) sale to Foreign funds. Government stopped the purchase of The Finance (TFC) shares by National Savings Bank (NSB) and subsequently SEC brought in a regulation preventing crossing taking over at a price above fixed percentage over the previous traded price. NSB attempted to buy TFC shares at Rs 50/= when latters market price was around Rs 35/=

AAIC shares are expected to change hands at Rs 128/= whilst the current market price is hovering around Rs 90/=

What are your thoughts??

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@ GMnet.........

You are spot on. This is what i always say.....No body can set a universally approved price for share. The value is depend on person to person...

What matters was CSF was a Gov. related thing so there are procedures to be followed. And the transparency issue came with the broker involvement.

If i was involved in this TFC deal i would hv done it in a proper way than these experts. no body will question................Because There is no universal method to value shares.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Maybe the difference is TFC deal involves country's internal money and a public bank. AAIC deal involves private company and inflow.

sureshot

sureshot
Vice President - Equity Analytics
Vice President - Equity Analytics
TFC deal = no pay after buy
AAIC = pay after buy

simple Very Happy

ranferdi

ranferdi
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The reality is that the Market price is not always a good indicator to Value a fare price of a share. Another thing to consider is that if you want to get hold onto a company and control it will you be able to buy the quantity required from the Free float Market quantity?? No.. So you have to negotiate and buy it from Institutional Investors. Simple let the market be free place but have guidelines for the Government funds and Banks who involves in the Market.

http://::::THIS EMAIL DOESNT WORK.. PLEASE CONTACT ME ON FB ACCO

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
BTW, what happened to those involved with the TFC deal
Or nothing happened keeping that trump to use at the right time?

sureshot

sureshot
Vice President - Equity Analytics
Vice President - Equity Analytics
@worthiness wrote:BTW, what happened to those involved with the TFC deal
Or nothing happened keeping that trump to use at the right time?


watchdog has more teeth ...but not bite

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
GMnet wrote:subsequently SEC brought in a regulation preventing crossing taking over at a price above fixed percentage over the previous traded price.

How can any regulator fix a percentage over the traded price ?

Trading price is a simple deal with two persons. Sometimes (or most of the times) buyer do no analysis about what he acquire.

When a crossing is negotiated it is completely different. They do analyze and most of the times they have clear time frame and planning for taking a return. Entering into the management is another factor.

Somehow, one can argue that, when a deal is done at a higher price, retail or minority people also should get a chance to sell at that price to the buyer.

sriranga

sriranga
Co-Admin
GMnet wrote:subsequently SEC brought in a regulation preventing crossing taking over at a price above fixed percentage over the previous traded price.

Refer the following link.
http://www.cse.lk/pdf/sec_directives/09-10-2012-SEC1.pdf

http://sharemarket-srilanka.blogspot.co.uk/

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