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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Will SEC ask to revert all the selling done by SHL Private placement shareholders below IPO price?

Will SEC ask to revert all the selling done by SHL Private placement shareholders below IPO price?

+3
lokuayya
mono
sapumal
7 posters

Go down  Message [Page 1 of 1]

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics

I think they should

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

sapumal wrote:I think they should
how do you know that they sold below IPO price

lokuayya


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Very true ,If they have sold the IPO drama should be treated as a scam.

innam

innam
Manager - Equity Analytics
Manager - Equity Analytics

sapumal wrote:I think they should

selling is not neccessarily by the directors but the big boys and connected parties who got the shares @7.2
anybody who bothered to read the prospectus could have seen the massacre from a mile away.

let me just repost the comment i made when the prospectus was out (the original discussion was here http://forum.srilankaequity.com/t4275-softlogic-ipo-prospectus#28745

"The key point for retailers is in page 48
14 million shares were sold in March/April 2010 for Rs 72 this was split into 10 in February 2011. which means that there are 140 million (nearly the same amount of shares as the IPO) which have cost their owners Rs 7.2
Will those who own 140 million shares at a cost of Rs 7.2 dump it on to the market at 20 levels?
part of the answer can be found in page 49. Bartleet finance has sold 3.5 million shares (which cost them 7.2) for Rs 24 each in March 2011.
so the shares were sold to certain connected parties at Rs 7.2 in 2010, they were sold in the grey market for Rs 24 in March 2011 AND NOW retailers are expected to pay Rs 29 in June 2011."

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics

mono wrote:
sapumal wrote:I think they should
how do you know that they sold below IPO price

If Director or related party has sold bellow IPO price it should be cancelled. IPO price must be fair.
Can we believe people who bought from IPO(@29) selling at this price at the first day ?

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics

Thanks innam for pointing out that at earlier stage. I dont have any SHL shares from IPO. But this attitude is not good for CSE. That's why I pointed out.

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

salt wrote:
mono wrote:
sapumal wrote:I think they should
how do you know that they sold below IPO price

Does anybody underatnd wht Mono is asking about?

I was asking if sapumal actually knew about directors selling, because there has been no announcement so far

mra

mra
Manager - Equity Analytics
Manager - Equity Analytics

most of the people who subscribe for IPO's are ignorant as they don't know about Private placement drama. any IPO's they just blindly subscribe to make few bugs on the same day trading.

SHL IPO is a eye opening lessons for anyone to be careful for any future IPO.
brokers should advice their clients the true side of any IPO rather than counting their own brokerage and promote blindly.

SEC is also responsible as they should restrict private placement sales for a certain periods from the 1st day trading. if price band can come to effect immediately based on the price movement, then why not private placement didn't have any rules....

Stockmaster

Stockmaster
Stock Analytic
Stock Analytic

True that prior to applying for an IPO, the investor should do his/her own study of the co. and valuation, but what we have seen in recent times is that, certain stock brokers promote these shares with a valuation/analysis report with a recommendation.

SHL was recommended by the so called top notch brokers. But the reality was

1.It was overpriced
2.No consideration of the lots sold in the private placement
3.Future growth etc.

Its time that the regulators get their act together and address these issue, instead of concentrating on various minute issues.

Hiru


Manager - Equity Analytics
Manager - Equity Analytics

Stockmaster wrote:True that prior to applying for an IPO, the investor should do his/her own study of the co. and valuation, but what we have seen in recent times is that, certain stock brokers promote these shares with a valuation/analysis report with a recommendation.

SHL was recommended by the so called top notch brokers. But the reality was

1.It was overpriced
2.No consideration of the lots sold in the private placement
3.Future growth etc.

Its time that the regulators get their act together and address these issue, instead of concentrating on various minute issues.

These are only examples to prove that brokers do not give you advice for your advantage. Please start to implement your own strategies.

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