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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Another untimely move by SEC - Foreign listings in Sri Lanka

Another untimely move by SEC - Foreign listings in Sri Lanka

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dineshfernando

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Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Please note that I'm not against for IPOs or introductions. But concerned of their timing. I have stopped subscribing for IPOs sometime back.

SEC has to take immediate action to limit the number of IPOs / introductions within a time frame. Some of our investors chase behind overprices IPOs and burn their fingers. Surprisingly they never learn.
As a group we have to boycot overvalued IPOs and introductions.

The market is slowly dying day-by-day. SEC is helping it to die faster as they are going to list foreign firms at CSE. It should be the other way round where our companies must be listed abroad so that our investors will be benefited. It is like repeatedly stabbing a dying person to expedite the death.

http://www.lankabusinessonline.com/fullstory.php?nid=1109642904

You could clearly notice that on Friday 75% of the turnover was VONE and investors didn't even bother for the other undervalued shares.

People are having different views and this is my personal opinion. Please note that I'm not against for IPOs and I always avoid overpriced IPOs.


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foreign bankrupt companies may get listed and you can see sky rocket prices in first day trades,defa Arrow

@dineshfernando wrote:Please note that I'm not against for IPOs or introductions. But concerned of their timing. I have stopped subscribing for IPOs sometime back.

SEC has to take immediate action to limit the number of IPOs / introductions within a time frame. Some of our investors chase behind overprices IPOs and burn their fingers. Surprisingly they never learn.
As a group we have to boycot overvalued IPOs and introductions.

The market is slowly dying day-by-day. SEC is helping it to die faster as they are going to list foreign firms at CSE. It should be the other way round where our companies must be listed abroad so that our investors will be benefited. It is like repeatedly stabbing a dying person to expedite the death.

http://www.lankabusinessonline.com/fullstory.php?nid=1109642904

You could clearly notice that on Friday 75% of the turnover was VONE and investors didn't even bother for the other undervalued shares.

People are having different views and this is my personal opinion. Please note that I'm not against for IPOs and I always avoid overpriced IPOs.




I agree. It is time to boycott overvalued IPOs. After FLCH i did not subscribe to any IPOs or did not purchase from any of the Introductions.

avatar

Post Sat Jul 09, 2011 9:44 pm by lokuayya

it is apparent from sec bosses speeches ,their thinking is listing more and more companies as faster as possible is the best thing that can happen to colombo stock exchange.

he is going all around to find more more companies.listing colombo in london , listing london in colombo ,listing maldives in colombo, oh my god,..
Same time cut credit.no capital ,so Share prices are going down the pallam.what we need at this stage is not new companies,we need more funds /capital in to the market.if capital is flowing then he can go shopping for new companies world over.the private placement guys raking remaning portion of available capital from the secondary market by diluting. buy at 7 rupees from private sell at 29 in secondary market ,take money and vanish.this money will not return to market.

But the bank regulators are very cunning.They dumped all the good ,bad and ugly finance companies in the colombo exchange and washed their hands.now its up to the public to shoulder when they fail.the central bank escaped from responsibility.

please stop new ipos for a two three month, let market to behave normally.do not let down the newly brought investors to the market .CSE gone all around and brought many new retail investors,dont loose their trust and confidence in the capital market.

@ loku ayya
Next to maldives is madagaskar ...what are the other countries? madagaskar , ithiopia etc... etc..

Well said lokuayya,+rep from me .The first +rep to you I believe. No one can understand their strategy. How are they going to rebuild investor confidence? Have they undestand the problem correctly? Or are they running blindly ? Only God knwos.

Well said. +rep from me too. Let this be an eye opener.

avatar

Post Sat Jul 09, 2011 10:46 pm by wallstreetguy

Well said, exactly, our blue chip companies should be listed in other countries. I wouldnt advise to buy any foreign company shares if it was listed in our exchange, who know what happens in that country and how the business performs,
Those companies can have excellent impressive websites, maybe reputed but thats not goiing help us judge how their business is. We need envormental information. About the country and the sector of the business and eveything. Specualting our own country is it self is tiring by the end of the day, imagine specualting some other country now. If that foreign business is establishing a base here, then its more than welcome.

We read the news which will be manupilated as always.

I have personally given up on IPOs, its such a waste of time
Eventually if we have patience, it will come down to the intial price or close, then we should start buying in. IPO's, Introductions arent attractive anymore. Secondary MArket is very attractive at the moment.

Pissu ahh!

Loku Ayya + Rep from me too Very Happy

But how can we take this idea to the next level?

It's time that wise investors boycott the over priced IPOs which earns HNWIs 400% return with PPs. I can't understand why the retailers don't learn a lesson.

A way to alarm the authorities is not to subscribe for these crap!

Hey guys... You need to look at the global picture. All Chinese companies are listed on the Hongkong stock exchange. Why can't we have all Indian and Maldivian companies listed on the Colombo Stock Exchange. After all Colombo is the gateway to South East Asia, just like Hong Kong to China... Dubai to the Middle East..

More opportunities to local investors. More foreign funds will look at CSE as a global stock marke. More foreign investment in Sri Lanka, this is how you could take Sri Lanka to the next level. Hats off to SEC!

Quibit, what's your opinion about the down trend? I need your experience to speak out please...

Hi all, why dont you think this way. When the market is down its for all of us, big and for small. When things become cheap why you only wants to cry and howl, instead you should be happy and dancing in the streets.

Believe me in few years time non of these shares wont be so cheap. If fundermentally sound stocks are going down you should all send thanking letters to SEC for listing more and more IPOs, for making it cheap for us.

Hat's off to SEC.

So many begging right issues….. after right issues value comes down SEYB SMLL all came down. ….IPOs beg for funds….Begging all the time... London stocks listed here and Maldives stocks listed here also start begging…. next Ethiopia... With the boom in tourism in Sri Lanka Maldives is not doing well, …so all the beggars come to CSE and they might come with rights issues...

Mae Mona mala illawakda Question


Stock market is really meant for corporate earnings, growth, dividend and profits etc.... Cool

@Tiger wrote:Hi all, why dont you think this way. When the market is down its for all of us, big and for small. When things become cheap why you only wants to cry and howl, instead you should be happy and dancing in the streets.

Believe me in few years time non of these shares wont be so cheap. If fundermentally sound stocks are going down you should all send thanking letters to SEC for listing more and more IPOs, for making it cheap for us.

Hat's off to SEC.

i would dance if i have money but all my funds stuck that is why i am worrying..

Expansion of CSE is a good move but you cant do it withing a month or two.. SEC and Gov works like world is going to end in 2012...

There are a limited number of investors, available funds have limits, and all new listings also come down from the initial price after few days. Having experienced losses in new listings investors with actual ability to invest with new funds now focus on shares with good corporate earnings.

it is taking some time to realize for the sri lankan people that they have done mistake over and over again. many foreign investors are staying away from our market now. you see foreign out flow is very high. if administrators bring this IPO s from everywhere everyone will burn their fingers irrespective of big or small. I will say very soon in next IPOs under subscription will happen. It is time to act soon.

Yes.. i think it will be better with many foreign companies in the CSE. but only thing we have to know which type of foreign company's will be listed in the CSE. Their has to have some control

In these days i don't think there is any control in the CSE. Many not good financial institutions coming to the market and central bank wants to wash their hands of monitoring given burden to poor investors. Many companies shares are manipulating ...with out any control from the regulators

See how many IPOs for this year. This also has to have some control.

What i feel, is their must be a limit of companies in Stock market and same way only good foreign companies too introduce to the market.

As of now many retails with big losses and how they can participate market activities.. though many SL or foreign companies introduce.

@player wrote:foreign bankrupt companies may get listed and you can see sky rocket prices in first day trades,defa Arrow


Right issues,.. new listings, speculative counters subjected to force
selling recently due to lack of funds,… foreign companies going to be listed here,.. IPOs, debentures ..are all different ways of collecting more and more funds from
retailers, …..where as well established businesses continue to report increasing
profits may bring more funds to their own PLCs in CSE.

Colombo Stock Exchange cannot dream of those profit making PLCs to volunteer and inject funds to rescue bankrupt counters…. right issues, IPOs, new listings etc.. Cannot expect any gains from those PLCs looking for more funds from poor retailers in the near future…Do they offer anything with corporate earnings, they just collect.

Investors really looking for currently profitable PLCs which actually make substantial profits at this moment… not just PLCs with great plans for future. Who knows whether those dreams are going to be realized? …Stagnant foreign companies also start begging here in CSE….generally investors tend to concentrate on currently profit making PLCs at the moment.

Smile Smile

Foreign companies listing on the CSE are likely to be part of a reciprocal deal, i.e. Lankan companies will also list on foreign exchanges. In such arrangements, smaller countries tend to benefit more - because the companies get exposed to a much larger investor base. Therefore, I am happy about the deal with the LSE.

Incidentally, there are just four companies listed on the Maldives Stock Exchange! There isn't much in it for us...

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