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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » EXPOLANKA HOLDINGS PLC (EXPO.N0000)

EXPOLANKA HOLDINGS PLC (EXPO.N0000)

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26EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Fri Mar 04, 2011 10:45 pm

hotstock


Manager - Equity Analytics
Manager - Equity Analytics
@achala75 wrote:I heard that WAPO is willig to by a big stake of Expolanka before going for a IPO. May be this news is not correct. Pl. check.

Wapo already bought a chunk under private placement. I heard IPO price would be twice as the WAPO bought price..

27EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Fri Mar 04, 2011 11:38 pm

achala75


Senior Equity Analytic
Senior Equity Analytic
You are correct hotstock, According to WAPO's letter to CSE dated 10.01.2011 they have made an assessment of the shere value of EXPO LANKA.That was Rs. 249,600,000/-

28EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sat Mar 05, 2011 7:52 am

million


Senior Equity Analytic
Senior Equity Analytic
i heard JKH has bought 5% of Expo shares in the Private placement but im not sure under which name/company.it was not announced was it??
.Im starting to get mote curious about expo lanka IPO.

29EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sat Mar 05, 2011 7:55 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
I think their prefer to go with the private placement, may come to IPO with a unit

30EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sat Mar 05, 2011 8:56 am

million


Senior Equity Analytic
Senior Equity Analytic
Gaja,

these big companies eying EXPOLANKA. Why ???????????

Is it a growth gem ??????

31EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sat Mar 05, 2011 9:15 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Well i am not sure about there plans, but expo group is growing stage by stage in reasonable way, but being family company their funding might be limited, so they also might prefer the private funding than IPO's, so they have to approach reliable fund providers as well.

Because the fact is that anybody has fund is not enough to enter into a pvt company unless the existing shareholders give their approval, on that basis i think expo selected Carsons Group to bring the money in, but i don't know whether JKH also some holdings as well have to check.

I think when any private companies select the partners for fund, they might look for the Management of the fund provider, their business, non financial benefits the fund provider may bring to the business and many more

32EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sat Mar 05, 2011 9:27 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
As per the new rules of CSE, these private placements have to be locked till a year is passed for them to sell.. whatever the company arrives at such placement has to find a future value in the companies they invest in... its not more a quick buck..

Didnt go into looking to their financial staability yey but if WAPO or JKH is bidding on this, my view is that this IPO will have some long term value as well..

33EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sat Mar 05, 2011 9:39 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
I think JKH or WAPO will NOT enter into a company for short term benefits

34EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sat Mar 05, 2011 9:42 am

million


Senior Equity Analytic
Senior Equity Analytic
In selecting IPO's i feel when the issued share is quite large its more not worth to invest.

e.g. a company having a shares of 1 billion then the company has to earn 1 billion to increase there EPS by 1.

a billion is not so easy to double. Unlike where BFL earned 160 million and having an EPS of 10 since they have a only 16 million shares.

these are my thoughts, it may be totally wrong. Please help me understand more on that.

35EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty YES Sat Mar 05, 2011 10:04 am

own


Equity Analytic
Equity Analytic
Sorry KIRI, u r correct. I was confused. There r so many up coming Lanka's in the Market now.

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics
It looks like only some units of the holding company would go for IPO.

Refer this news.

Rs 2 billion IPO
Mr. Yusoof noted that this was done in a bid to gear up for the Initial Public Offering (IPO), restructure the debt in the companies while revving up for immediate growth in the core business. “We are hoping to raise about Rs 2 billion through the IPO and the total sell down (with the recent private placement) will be 25% of the company,” he said.

He said all firms, except their corrugated business, aviation and garments will not come into the IPO. He said that Expolanka is gearing to expand the freight forwarding business. “We’ll be eyeing acquisitions in freight forwarding as well,” he said. He said the company will apply to the Securities and Exchange Commission for sanctions to go for an IPO within the first half of this year.

http://sundaytimes.lk/110220/BusinessTimes/bt28.html

http://forum.srilankaequity.com/u188

37EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Mon Mar 07, 2011 5:06 pm

TelesHope

TelesHope
Senior Equity Analytic
Senior Equity Analytic
@Gaja wrote:I think JKH or WAPO will NOT enter into a company for short term benefits

One of the purpose of WAPO right issue is to subscribe Expo Lanka through private placement.

If Expo Lanka IPO is on the cards, people should consider subscribing Expo IPO than purchasing WAPO at exobient prices...Anyway, people will never learn in the CSE Sad Sad

38EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty when is the IPO Sat Apr 09, 2011 6:35 pm

ssb

ssb
Manager - Equity Analytics
Manager - Equity Analytics
did expo Lanka went in to IPO ?????
when???

39EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sat Apr 09, 2011 7:58 pm

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics
@$$$ wrote:Respected company that has been in business for years ....

They are calling applications for a MBA/CFA qualified person to the Head the strategic Plannining and Business Development. The job is to evaluvate new business opperortunities and make strategic recommendations.

Looks they are getting ready to expand.

http://forum.srilankaequity.com/u188

40EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sat Apr 09, 2011 9:47 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@milanka wrote:
@$$$ wrote:Respected company that has been in business for years ....

They are calling applications for a MBA/CFA qualified person to the Head the strategic Plannining and Business Development. The job is to evaluvate new business opperortunities and make strategic recommendations.

Looks they are getting ready to expand.


Well I could apply it seems... Razz where did u get this?

Vishwanarth dislikes this post

41EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sat Apr 09, 2011 11:02 pm

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics

I think , this anoucement was discussed. Some PLCs invest prior to IPO... for added advantage and greater profits.


http://www.cse.lk/cmt/upload_cse_announcements/261301658536_.pdf

42EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sun Apr 10, 2011 9:58 am

million


Senior Equity Analytic
Senior Equity Analytic
the private placement being at Rs.6 according to guardian capital announcement. but i hear rumors the IPO being even more than Rs.15. big difference

Can it happen ????????

43EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sun Apr 10, 2011 10:00 pm

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics
@smallville wrote:
@milanka wrote:
@$$$ wrote:Respected company that has been in business for years ....

They are calling applications for a MBA/CFA qualified person to the Head the strategic Plannining and Business Development. The job is to evaluvate new business opperortunities and make strategic recommendations.

Looks they are getting ready to expand.


Well I could apply it seems... Razz where did u get this?

Half page advert on Daily FT on Saturday 9th April.

http://forum.srilankaequity.com/u188

44EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Sun Apr 10, 2011 11:42 pm

mark

mark
Expert
Expert
@smallville wrote:
@milanka wrote:
@$$$ wrote:Respected company that has been in business for years ....

They are calling applications for a MBA/CFA qualified person to the Head the strategic Plannining and Business Development. The job is to evaluvate new business opperortunities and make strategic recommendations.

Looks they are getting ready to expand.


Well I could apply it seems... Razz where did u get this?

WOW..........you got CFA?...............

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
ExpoLanka - Rs 2.4 bn IPO opens on 12 May 2011
172 mn shares offered @ Rs 14 each
http://www.cse.lk/cmt/upload_cse_announcements/6461302596552_.pdf

Recent Pre-IPO private placement (sell down) seems to have been done at Rs 6 per share - JKH, WAPO and Logan Rockfeller Global were among initial buyers

46EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Tue Apr 12, 2011 2:20 pm

seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@cse.alpha wrote:ExpoLanka - Rs 2.4 bn IPO opens on 12 May 2011

172 mn shares offered @ Rs 14 each

http://www.cse.lk/cmt/upload_cse_announcements/6461302596552_.pdf

Recent Pre-IPO private placement (sell down) seems to have been done at Rs 6 per share - JKH, WAPO and Logan Rockfeller Global were among initial buyers

the pricing to retail investors @ very high premium.... See WAPO & JKH and others already gain more than Rs.8 capital gain...

Look at WAPO capital gain @ rate of 14 ( 41,600,000*Cool = Rs.332,800,000... This only at IPO price... If it is in the MKt price WAPO would be getting more than Rs.500Mn...

In future WAPO also would come out with strong portfolio like GUAR and CINV..... Better to look in to WAPO if the price comes down...

Happy Trading

47EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Tue Apr 12, 2011 2:59 pm

cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
WAPO has 25.8 mn shares in issue now - its net asset value (NAV) per share, even after allowing for 350% appreciation in 41.6 mn Expolanka shares (cost Rs 6 each - at Rs21, capital gain is around Rs 624 mn) is still under Rs 50 per share.

After 75 for 2 rights issue @ Rs 20 per share that raised Rs 503 million, WAPO's adjusted net book value (NBV) per share would be approx Rs 20 - total NBV of Rs 524 mn (Rs 250 mn worth of Expo Lanka shares, and Rs 270 mn of cash).

If ExpoLanka trades at Rs 21 (up 50% from Rs 14 IPO price), WAPO's Expo investment would be worth Rs 874 mn.

That would still raise WAPO's adjusted NBV per share by only around Rs 24 to approximately Rs 45 per share.

At Rs290, investors paying more than 6 times adjusted NBV, for what is basically an investment trust where net asset value is better valuation method than PER or discounted free cash flows methods, seem to be very confident of management ability to deliver exceptional super normal returns on adjusted asset base.

WAPO will do well, but will it do well enough to justify current prices of around Rs 290? Similar, but much larger investment trusts such as CINV and GUAR do not trade at such 6 times premiums to NAV.

48EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Tue Apr 12, 2011 3:00 pm

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
Are they Pre IPO investments ?

49EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Tue Apr 12, 2011 3:16 pm

seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@cse.alpha wrote:WAPO has 25.8 mn shares in issue now - its net asset value (NAV) per share, even after allowing for 350% appreciation in 41.6 mn Expolanka shares (cost Rs 6 each - at Rs21, capital gain is around Rs 624 mn) is still under Rs 50 per share.

After 75 for 2 rights issue @ Rs 20 per share that raised Rs 503 million, WAPO's adjusted net book value (NBV) per share would be approx Rs 20 - total NBV of Rs 524 mn (Rs 250 mn worth of Expo Lanka shares, and Rs 270 mn of cash).

If ExpoLanka trades at Rs 21 (up 50% from Rs 14 IPO price), WAPO's Expo investment would be worth Rs 874 mn.

That would still raise WAPO's adjusted NBV per share by only around Rs 24 to approximately Rs 45 per share.

At Rs290, investors paying more than 6 times adjusted NBV, for what is basically an investment trust where net asset value is better valuation method than PER or discounted free cash flows methods, seem to be very confident of management ability to deliver exceptional super normal returns on adjusted asset base.

WAPO will do well, but will it do well enough to justify current prices of around Rs 290? Similar, but much larger investment trusts such as CINV and GUAR do not trade at such 6 times premiums to NAV.

Yes cse.alpha

Thanks for the good input on WAPO... Yes WAPO this price level Pretty much high.. However this will perform in future days as their strategy to invest with private equity in pre IPO session and come out with massive capital gain.. Now they used the half of the rights issue proceeds.... will see, balance half where there are going to invest...........

Happy Trading

50EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Tue Apr 12, 2011 3:50 pm

mzm


Stock Trader
@ssb wrote:did expo Lanka went in to IPO ?????
when???

CSE has announced today the offer for subscription by Expolanka

http://www.cse.lk/cmt/upload_cse_announcements/6461302596552_.pdf

51EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Tue Apr 12, 2011 6:13 pm

Chabbi

Chabbi
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@cse.alpha wrote:WAPO has 25.8 mn shares in issue now - its net asset value (NAV) per share, even after allowing for 350% appreciation in 41.6 mn Expolanka shares (cost Rs 6 each - at Rs21, capital gain is around Rs 624 mn) is still under Rs 50 per share.

After 75 for 2 rights issue @ Rs 20 per share that raised Rs 503 million, WAPO's adjusted net book value (NBV) per share would be approx Rs 20 - total NBV of Rs 524 mn (Rs 250 mn worth of Expo Lanka shares, and Rs 270 mn of cash).

If ExpoLanka trades at Rs 21 (up 50% from Rs 14 IPO price), WAPO's Expo investment would be worth Rs 874 mn.

That would still raise WAPO's adjusted NBV per share by only around Rs 24 to approximately Rs 45 per share.

At Rs290, investors paying more than 6 times adjusted NBV, for what is basically an investment trust where net asset value is better valuation method than PER or discounted free cash flows methods, seem to be very confident of management ability to deliver exceptional super normal returns on adjusted asset base.

WAPO will do well, but will it do well enough to justify current prices of around Rs 290? Similar, but much larger investment trusts such as CINV and GUAR do not trade at such 6 times premiums to NAV.

Im too agree with cse. I calculate when the WAPO made thr initial announcement that period wapo arnd 800 & aftr increase and right issue. i check with 800 levels it should be arnd 40 - 45 .... bt now its higher Rs. 280 + ....

Further with new rules WAPO cant sell on EXPO 1st day @ Mkt. with my knwledge WAPO shd need many this kind of capital gains to justify with current mkt rate.

Pls point my mistake to correct me Smile

Cheerz

52EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Tue Apr 12, 2011 7:25 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@mark wrote:
@smallville wrote:
@milanka wrote:
@$$$ wrote:Respected company that has been in business for years ....

They are calling applications for a MBA/CFA qualified person to the Head the strategic Plannining and Business Development. The job is to evaluvate new business opperortunities and make strategic recommendations.

Looks they are getting ready to expand.


Well I could apply it seems... Razz where did u get this?

WOW..........you got CFA?...............

It smells MBA nuh? Wink



Last edited by smallville on Tue Apr 12, 2011 7:44 pm; edited 1 time in total

53EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Tue Apr 12, 2011 7:28 pm

mark

mark
Expert
Expert
GOT IT MILANKA

54EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Tue Apr 12, 2011 9:44 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
so basically a person applies upto 7,100 shares will be considered as retailer. am i right? I think some days back they appointed some reputed directors also to their board - http://forum.srilankaequity.com/t2422-expolanka-holdings-appoints-independent-directors-pre-ipo

55EXPOLANKA HOLDINGS PLC (EXPO.N0000) - Page 2 Empty Re: EXPOLANKA HOLDINGS PLC (EXPO.N0000) Thu Apr 14, 2011 2:35 am

newbie


Equity Analytic
Equity Analytic
this should be really good.... Twisted Evil

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