So AFSL can lead to sky high with new imvestors
See the company statement
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HOTEL AND TRAVEL SECTOR TILE AND CERAMIC SECTOR
EXPORT SECTOR LAND AND PROPERTY SECTOR TELECOMMUNICATION SECTOR
TRADING SECTOR DIVERSIFIED HOLDINGS SECTOR EDUCATION SECTOR
@Gallardo wrote:I maintain that anyone collecting should target the lowest price possible. The price Ironwood collected at or anything even close by (Rs. 10 or so higher) might be difficult as there are very few shares on the market. Ironwood aren't here to make only 5 or 10 % so the prospects must be really good for them to get in. Also my reference about their work at Hemas, Actis/Asiri, Ceylon Oxygen, etc is about the activities Ironwood directors have played a critical part in.
@Gallardo wrote:Considering that the last rights issue only concluded in April and was successfully oversubscribed, how likely is another on and exactly how soon do you expect? 2 years? 3/4? This April's right issue might have been the first time since listing.
Also, before Ironwood invested through a private placement, they would get a concrete agreement on future rights issue timelines. Otherwise they risk diluting their shareholding after investing so much if they fail to subscribe.
Last edited by fortuneteller on Sat Mar 18, 2017 10:54 am; edited 1 time in total (Reason for editing : to provide accurate info)
@Wimal Modawansa wrote:It is reported that AFSL is in deep trouble and the profit for February is only Rs 100,000 and the major share holder Abans Will not subscribe for the rights issue.The share is trading at 23.10 as against the rights price of Rs 25.00.Market is being manipulated and one share was traded at 28.10 to mislead the investors.
@fortuneteller wrote:A Consultant by the name of Eric Rajendra too quoted that Abans PLC (Parent Company) is in the verge of collapse due to their investment on mixed development "Colombo City Centre project"where the investment has increased and delays in completion .
He also said that the current chairperson is too old over 86 years and the Managing Director is also a sick person.With no succession plan and weak top management and the group not generating Cash flow,they will not take up the right issue shares of Abans Finance PLC.
Profit of Abans Finance PLC for the month of February is only Rs 100,000/=
Abans Finance PLC is also reported to be manipulating the profits.The share is trading at 23.10 as against the rights issue price of 25.00.
number of false trades of one share each is being traded to artificially push the share price.
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