The mother company has a strong policy to own 100% shareholding of it's subordinates located in other countries and they have attempted to do so last time. Eventhough they had to revert the proposal with the strong share holder opposition, they have not given up the task.
In my opinion, majority of retail traders collected the share with an anticipation for a huge run within a very short period, specially aiming the possible dividend to be declared. The major stake holder, AIA Holdings Lanka (Pvt) Ltd holds 87.28% of the share holding while AIA Company Limited holds 9.88% share holding tallying to 97.16%. Only the balance 2.84% with among 2001 of public share holders.
The company is keen in collecting the profits on their behalf. The real performance of the company in 2017/2018 once take apart the contractual liability is Rs.4.762bn, where this time profit is Rs.4.132bn with tax reversal.
The previous year high surpluses were purely due to change in contractual liability, which obviously cannot be expected to continue in each year.
Yet the company offered a buy back price of Rs.1,000/- per share following a dividend of Rs.91/- per share, at a time the share was trading in-between Rs.400/- to Rs.500/-.
Perhaps they learnt the lesson on what the public share holders really think of the company capacity. Hence they might have offered a lessor dividend this time with the expectation for a price roll down following a buy back offer, "IF" the mother company is still planning to own 100% of share holding.
And "IF" they really wanting to do so, who would distribute a higher dividend to the public when they can retain and enjoy the huge retained earning within themselves later.
My strong advice, your gain or loss is as a consequence of your gut and wit, so as mine. Be free to do what you feel is right and never worry of the past behind.
The price this time seems not contemporary to the monitory figures.