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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » 28-Jan-2013 Right Issue - Kotagala Plantations

28-Jan-2013 Right Issue - Kotagala Plantations

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sriranga

sriranga
Co-Admin
28-Jan-2013 Right Issue - Kotagala Plantations	  Right10

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

VISA


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
can someone tell me whether govt. have a golden share in KOTA ?

328-Jan-2013 Right Issue - Kotagala Plantations	  Empty KOTA.N0000 Mon Jan 28, 2013 1:49 pm

bakapandithaya

bakapandithaya
Vice President - Equity Analytics
Vice President - Equity Analytics
What is happening to KOTA

K.Haputantri

K.Haputantri
Co-Admin
@bakapandithaya wrote:What is happening to KOTA
http://www.cse.lk/corporate_disclosures_more.do#6513

bakapandithaya

bakapandithaya
Vice President - Equity Analytics
Vice President - Equity Analytics
Is it worth @ 65? Any one pls

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Sri Lanka’s Kotagala Plantations PLC has decided to raise Rs. 360 million via a ‘Rights Issue’, to settle debt and to finance the working capital requirements of the firm.

Accordingly, the plantation firm will issue 8 million ordinary shares at a price of Rs. 45 per share.

The proportionate of the issue would be one new ordinary share for every four existing issued ordinary shares.

The firm says, once the money is raised, Rs. 300 million of it will go into settle Bank borrowings, while another 60 million will go into finance the firm’s working capital requirements.
http://www.news360.lk/business-finance/news-sri-lanka-28-01-2013-kotagala-plantation-to-raise-rs-36011-million-via-a-%E2%80%98rights-issue%E2%80%99

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Is this the same company that gave parent a big loan at low interest?

mark

mark
Expert
Expert
ya @ 5% as i rmbr

it will be a disaster to retailers,so much right issues..

thats why people buy CTC,LLUB,LION,BREW,NEST even with so much overvaluations.

*No right issues
*only up in longterm
*less std deviations
*DV paying

thats why they reaching 52wk highs.

sahan8896


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@mark wrote:ya @ 5% as i rmbr

it will be a disaster to retailers,so much right issues..

thats why people buy CTC,LLUB,LION,BREW,NEST even with so much overvaluations.

*No right issues
*only up in longterm
*less std deviations
*DV paying

thats why they reaching 52wk highs.
Exactly on point.Investing is getting dangerous in CSE.You may buy a good company share and hold it.It may go down and you'll still hold but then comes right issue.All over.Buy and sell with index movement is the best.

sureshot

sureshot
Vice President - Equity Analytics
Vice President - Equity Analytics
Lankem Group is a No.1 "Right Issue factory" @ CSE
retailers Be careful.

Very Happy

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@bakapandithaya wrote:Is it worth @ 65? Any one pls

Wait mate. No value at 65, it will come down. Sometimes, You could buy less than 45 in da mkt as many shares trading less than its right price...

Liber Abaci


Senior Equity Analytic
Senior Equity Analytic
@bakapandithaya wrote:What is happening to KOTA


What is happening here ....is the directors representing major shareholder Lankem Group , is taking minority share holders "for a ride".
The presumption here is that paying off bank borrowings will help in reducing interest cost and thereby improving profitability (in turn dividends /share price ). However any person with knowledge of simple arithmetic can understand that though profitability is higher in an Investment with equity, RETURN On INVESTMENT
is much higher if the same Investment is arranged with debt/equity combination. the minority shareholders concern is ROI which directly influence share price.

However the controlling shareholders/ directors interests are different.
As in the case of Lankem group, when a Public listed company is included in a Group consisting of PRIVATE companies also, usually what is happening is raising cash thro' public company ( IPO's Rights Issues, Debentures which do not need collateral) and channeling cash to fund operation /investments in private companies. Overhead costs of the Group will be charged to the public company, to maximum possible extent , and the profits would be maximized in private companies. From the controlling shareholders /directors point of view , this is the most pragmatic strategy to maximize ROI of Total Investment in Group companies.

Other Posters in this Thread have indicated specific examples of how Lankem directors channel money from Public company to Group companies.

Any sensible shareholder WILL NOT [u] subscribe to this rights issue , if he understand this simple logic.

sriranga

sriranga
Co-Admin
KOTAGALA PLANTATION PLC
Company ID: - KOTA
Date of Initial Announcement: - 28.Jan.2013
Proportion: - One (01) new ordinary share for every four (04) existing ordinary share held
Issue Price: - Rs. 45.00/-
Qty Offered: - 8,000,000
General Meeting / Provisional Allotment: - 05.Mar.2013
Date EX: - 06.Mar.2013
Dispatch of Provisional Letter of Allotment: - 12.Mar.2013
Rights Trading Commences on: - 18.Mar.2013
Renunciation: - 25.Mar.2013
Last Date of Acceptance & Payment: - 27.Mar.2013
Share Transfer Book Open

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

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