UBC deal @ 15.3 according to cse.lk

ccsentha · 1 UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 3:47 pm

ccsentha

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http://www.cse.lk/cmt/upload_cse_announcements/9951408008283_.pdf

it looks like the retailers/existing share holders have been hard-done.

742M shares to be given via private placement at 15.3 (68% stake)

218M warrants at 0.30 with an exercise price of 16 (duration - within six years) affraid

that is ridiculous. After 6 years 218M shares of UBC can be purchased for a total price of 16.30(.3+16) per share. Exclamation

The existing share holders should be very upset by this.

Am i the only one who thinks this deal may not be approved at the EGM? (current public share holding is 64% so people can make a difference)

ccsentha · 2 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 3:50 pm

ccsentha

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218M warrants to be issue at 0.30 and warrant conversion price after 6 years is 16, what joke!!!!!!!!!! existing share holders should go bunkers about this.

This private placement will dilute the existing share holders in a big way too...

Harry82 · 3 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 4:03 pm

Harry82

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Eng Krishantha,
How many share you have?
wow shift to cocr or Lfin or PABC or Samp

ccsentha · 4 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 4:25 pm

ccsentha

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Harry82 wrote:Eng Krishantha,
How many share you have?
wow shift to cocr or Lfin or PABC or Samp

who is "Eng Krishantha,"?

K7 · 5 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 5:09 pm

K7

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ccsentha wrote:http://www.cse.lk/cmt/upload_cse_announcements/9951408008283_.pdf

it looks like the retailers/existing share holders have been hard-done.

742M shares to be given via private placement at 15.3 (68% stake)

218M warrants at 0.30 with an exercise price of 16 (duration - within six years)
that is ridiculous. After 6 years 218M shares of UBC can be purchased for a total price of 16.30(.3+16) per share.

The existing share holders should be very upset by this.

Am i the only one who thinks this deal may not be approved at the EGM? (current public share holding is 64% so people can make a difference)

I'm holding some at a high price from the period of IPO. What should I do now? Expecting a down trend tomorrow?? scratch

Experts, please advise.

Gainer · 6 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 5:25 pm

Gainer

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Up trend market like this useless announcement will come Razz

kethees · 7 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 5:43 pm

kethees

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Somebody said here it is going to be at Rs 25..this forum becomes full of promotors and liers....another blow..innocent prople loose their money..This bank has nothing...look at their PL...I have only JINS which I believe fundamentally stronger than this bank and very good dividend...please buy fundamentally strong shares...you never fail.. The price foreigners offerred is reasonable...one of the overpriced IPO in the history..........why CSE allowed for such lower price???

dhanurrox · 8 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 5:48 pm

dhanurrox

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kethees wrote:Somebody said here it is going to be at Rs 25..this forum becomes full of promotors and liers....another blow..innocent prople loose their money..This bank has nothing...look at their PL...I have only JINS which I believe fundamentally stronger than this bank and very good dividend...please buy fundamentally strong shares...you never fail.. The price foreigners offerred is reasonable...one of the overpriced IPO in the history..........why CSE allowed for such lower price???

I don't think people who told that are promoters.They themselves are in trouble now.

NZ BOY · 9 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 6:16 pm

NZ BOY

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Dont panic

daminda · 10 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 7:11 pm

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TPG fellows are very poor in quality. They could have been made a virgin investment with out detiriorating UBC share holders wealth.

Top Trader · 11 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 7:14 pm

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NZ Boy it's high time to buy what ever possible isn't it?

daminda · 12 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 8:00 pm

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This is also a very complex case of PC pharma/Adams case. They issued shares at Rs28/= per share at IPO and now issuing nearly 50% of IPO price. SEC should ordered to pay the excess Rs12.70 per share which they robbed from poor retailers who bought at IPO.

SHARK aka TAH · 13 Re: UBC deal @ 15.3 according to cse.lk Thu Aug 14, 2014 8:44 pm

SHARK aka TAH

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daminda wrote:This is also a very complex case of PC pharma/Adams case. They issued shares at Rs28/= per share at IPO and now issuing nearly 50% of IPO price. SEC should ordered to pay the excess Rs12.70 per share which they robbed from poor retailers who bought at IPO.

Yes You got a point... this would a bad precedent for the future Surprised