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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Bloody Warrants and Rights Cheating the Investors

Bloody Warrants and Rights Cheating the Investors

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vic19


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hi "invest -wisely", you are correct to a certain extend but you must also take into account that these type of issues will mob up available cash in the market and will have knock on effect on the other share price due to lesser investable money among investors in a small way.

Don't you think so?

Any way I have sold my janashakthi at 21/-

Thanks

Roshan Fernando


Senior Equity Analytic
Senior Equity Analytic
BLUE right also same thing happen, before right the BLUE.X is around Rs.1/- and Rs.1.1, after announce right it come down Rs. -/70. There was no demand for right at that period. But finally the company get Rs. 165M from right

The purpose of right issue is “establish a research development unit, establish gold design centre, investment in new machinery “ .

As per the last quarter financial statement, administration exp is very high and cash in hand is Rs.72 M due right issue. We do not know the present progress of the company planned (right issue)

I think CSE should monitor the company use right issued cash for intended purpose or not, otherwise the companies play with small investor’s money.  

Gainer


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Rights Issue will killing the market becarefull.
Many Companys Ready to Announce Rights Issue.
JINS already Announce.....................................
Buy Only Cash Rich Companys in this market.

PROPRITER


Equity Analytic
Equity Analytic
@Gainer wrote:
@Ryan Hudson wrote:@Gainer Whats your basis to say JIns rights overvalue

JINS Net Asset Value Per Share 12.15 and EPS .55 Cents then Rights issue should be below net asset value.

Should be go for Solvency Test .


@G
why do you think that the Right should be below the net asset value of a share?
if its possible please explain.

vic19


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hi " proprietor ",

As you know the rights are only for the people who are already holding the company shares.

The rights should be always priced to give some sort of incentive to the existing share holders to benefit mainly by way of pricing. ( market price to rights price )

In my view I support " gainers " comment that rights pricing should be around NAV . This gives some sort of confidants for the existing share holders to part their money and rely on it share value.

Will you buy any thing without knowing its instinct value ?

Share price vary time to time according to market sentiment however NAV do not it is some what stable.

Also the " rights " price depend on the purpose of its been done.

I hope I am right.

Experts please correct me if I am wrong.

Thanks

PROPRITER

PROPRITER
Equity Analytic
Equity Analytic
I do agree with you vic, but I believe NAVPS doesn't always reflect the fair/ instinct value of a share.
as an example sectors such as Manufacturing, Finance & Banking.. shares' NAVPS is considerably lower than their market value. On the other hand in the sectors such as Plantation, Property & Land its other way around.

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
JINS After Rights Issue high liquidity it will bring down the market price below 18.50

Many Companys issue Rights for earn money for personal use.

Rights issue one kind of cheating.

JINS Rights issue 181,500,066 (Number of shares) * 18.50 = 3,357,751,221 (3.357 billion) This for what???

vic19

vic19
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hi Gainer,

It is not right to say "RIGHTS" is a kind of cheating.

It a legitimate instrument all over.

The point here may be it is being misused which is cheating. Then the laws had to tight to avoid those things.

You can't blame this. Even if there is a way and if I have a company I will do the same to get very very low cost capital. Why not? Won't you?

PROPRITER

PROPRITER
Equity Analytic
Equity Analytic
@vic19 wrote:Hi Gainer,

It is not right to say "RIGHTS" is a kind of cheating.

It a legitimate instrument all over.

The point here may be it is being misused which is cheating. Then the laws had to tight to avoid those things.

You can't blame this. Even if there is a way and if I have a company I will do the same  to get very very low cost capital. Why not? Won't you?

When money talks, Nobody checks the grammar... Sad

vic19

vic19
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Sorry, if there is a grammar error.

PROPRITER

PROPRITER
Equity Analytic
Equity Analytic
@vic19 wrote:Sorry, if there is a grammar error.
Extremely sorry for the misconception Vic. It's an idiom, there's nothing wrong with your post. Just wanted to say money rules over everything. Cheers!

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Rights issue killing the market, Now JINS, next..............................?

slequityanalyst


Manager - Equity Analytics
Manager - Equity Analytics
If the companies are useless, please don't buy even their normal shares not only Warrants and Rights. Warrants and rights, as Vic19 mentioned, ususal plain vanilla instruments issued by any company in the world. So, when a company issues rights or warrants just see what they are intending to do with the cash they raise. Only then buy them. Because, no on is forcing you to buy these things. You can completely stay out of them. If you want to raise your voice, raise it towards the regulators to bring in more disclosure in terms of these instruments. Then only you can evaluate them more rationally. Otherwise you will one day say,"Shut down the CSE".

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