@slstock wrote:@tubal wrote:@smallville wrote:Where was this PP news?
However with SEC new rules, they cant sell it on the market till a year rite?
Well CINV has sold their EXPO holding to WAPO at 6 rupees per share http://www.cse.lk/cmt/uploadAnnounceFiles/4191301658437_612.pdf
Which possibly means
1) they bought the shares at less than 6
2) they can sell at anytime.
even WAPO can't sell that stuff for an year, it doesn't change the fact that they paid less than half the price that you are about to pay.,
agree with you point on the retailers paying double.
Regarding CINV and WAPO. We need to double check what this new SEC rule says. Is selloff/trasnfer allowed within related companies is the question
I think the WAPO will be able to sell the shares as and when they decide, As per the amended SEC rule the shares allotted before Feb 7 2011 will not be bound to this rule.... Further CINV paid for the EXPO Lanka in 3rd quarter since we could there was amount 249Mn for pending allurement. I think shares would have been allotted in early Jan.
Just the attachment of SEC rules....