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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Who won the Race "AAIC"?? Softlogic(SHL), ACAP, AAIC, RICH ..

Who won the Race "AAIC"?? Softlogic(SHL), ACAP, AAIC, RICH ..

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factFINDER

factFINDER
Manager - Equity Analytics
Manager - Equity Analytics
It was finally announced that Softlogic Holding PLC (SHL) is the party who buy AAIC from ACAP @ 120/- par share.

1. Sometimes ago ACAP expressed it's intention to exit insurance business by disposing its stake (about 73%). But, asking prices was much higher than the sold price of 120/- (some says it was about 160-190/-)

2. There was a wide spreaded speculation that RICH is going to aquir the controlling stake of ACAP (they already hold 25%). At the AGM of RICH, Dr.Y, expressed that they are in the middle of aquire an insurance company and a RFC, and most of us guess RICH going to buy AAIC.
If it was the case, have RICH lost the race to SHL?

3. Few days ago SHL annunced that they are going to buy a insurance and today ACAP confirmed that it they are to sell AAIC to SHL. Did SHL buy AAIC at the correct price??

4. Finally for AAIC, will SHL can further add value to their business? or Is RICH was a better partner?

Can you add your thoughts on this please....




windi5

windi5
Moderator
Moderator
Brother some facts seem to be wrong in your post. Acaps total holding in AAIC was 53.16%(http://www.cse.lk/cmt/upload_cse_announcements/5111310443568_.pdf).

I think,Acap didnt want sell AAIC in hurry with losses,They may consider lots of facts before coming to a conclusion. If there was a competition in acquiring aaic, the rich would have bought aaic paying even 150 per share.

Rich holds 15% stake in aaic not a 25% in acap.(http://www.cse.lk/cmt/upload_report_file/363_1304509978.pdf)

AAIC was trading around 70 in the last part of the 2010, and suddenly appreaciated above 100 and positioned around 115-120, very recently it started to move once again and hit around 165 as i can remember.
aaic is a good company with systematically built up reputation and with a reasonable mkt share.
Its two business models of two companies, whn one wants to enter in to insurance industry other want exit so both are benefited in the end.
Acap is mostly engaged in asset management and investment activities so they got a huge capital gain from this investment of aaic after long years.they will invest in other promising companies in future and will continue their business in that way.
SHL is a holding company with diversified sectors like ,
technology, health care, tourism, plantation, etc., so the new addition of aaic will give them a good chance to be in forefront of the insurance industry as well.

But immediate beneficiary is the ACAP as they have earned a big capital gain exceeding 2b. this will be included in their next financial report making two figure EPS.

Acap share will appreciate in coming days. as aaic already trading above that purchase price, we can tell exactly its behavior, SHL share will not be effected in short term as it showed in first day of trading

nkalansu


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@windi5 wrote:Brother some facts seem to be wrong in your post. Acaps total holding in AAIC was 53.16%(http://www.cse.lk/cmt/upload_cse_announcements/5111310443568_.pdf).

I think,Acap didnt want sell AAIC in hurry with losses,They may consider lots of facts before coming to a conclusion. If there was a competition in acquiring aaic, the rich would have bought aaic paying even 150 per share.

Rich holds 15% stake in aaic not a 25% in acap.(http://www.cse.lk/cmt/upload_report_file/363_1304509978.pdf)

AAIC was trading around 70 in the last part of the 2010, and suddenly appreaciated above 100 and positioned around 115-120, very recently it started to move once again and hit around 165 as i can remember.
aaic is a good company with systematically built up reputation and with a reasonable mkt share.
Its two business models of two companies, whn one wants to enter in to insurance industry other want exit so both are benefited in the end.
Acap is mostly engaged in asset management and investment activities so they got a huge capital gain from this investment of aaic after long years.they will invest in other promising companies in future and will continue their business in that way.
SHL is a holding company with diversified sectors like ,
technology, health care, tourism, plantation, etc., so the new addition of aaic will give them a good chance to be in forefront of the insurance industry as well.

But immediate beneficiary is the ACAP as they have earned a big capital gain exceeding 2b. this will be included in their next financial report making two figure EPS.

Acap share will appreciate in coming days. as aaic already trading above that purchase price, we can tell exactly its behavior, SHL share will not be effected in short term as it showed in first day of trading
To : windi5

Actually RICH holds 25% of AAIC.

Richard Pieris and Company 15%
Richard Pieris Distributors (Pvt.) Ltd. (100% owned by RICH) 10 %

Altogether 25%.

MarketSIRA


Senior Equity Analytic
Senior Equity Analytic
@windi5 wrote:Brother some facts seem to be wrong in your post. Acaps total holding in AAIC was 53.16%(http://www.cse.lk/cmt/upload_cse_announcements/5111310443568_.pdf).

I think,Acap didnt want sell AAIC in hurry with losses,They may consider lots of facts before coming to a conclusion. If there was a competition in acquiring aaic, the rich would have bought aaic paying even 150 per share.

Rich holds 15% stake in aaic not a 25% in acap.(http://www.cse.lk/cmt/upload_report_file/363_1304509978.pdf)

AAIC was trading around 70 in the last part of the 2010, and suddenly appreaciated above 100 and positioned around 115-120, very recently it started to move once again and hit around 165 as i can remember.
aaic is a good company with systematically built up reputation and with a reasonable mkt share.
Its two business models of two companies, whn one wants to enter in to insurance industry other want exit so both are benefited in the end.
Acap is mostly engaged in asset management and investment activities so they got a huge capital gain from this investment of aaic after long years.they will invest in other promising companies in future and will continue their business in that way.
SHL is a holding company with diversified sectors like ,
technology, health care, tourism, plantation, etc., so the new addition of aaic will give them a good chance to be in forefront of the insurance industry as well.

But immediate beneficiary is the ACAP as they have earned a big capital gain exceeding 2b. this will be included in their next financial report making two figure EPS.

Acap share will appreciate in coming days. as aaic already trading above that purchase price, we can tell exactly its behavior, SHL share will not be effected in short term as it showed in first day of trading

Windi5 check out? http://www.cse.lk/cmt/upload_report_file/364_1297340611699.pdf

As 31.12.2010

Name of Shareholder No. of Shares %
Asia Capital PLC 9,743,716 25.984
Fast Gain International Ltd 9,096,000 24.256
Asai Fort Srilanka Direct Investment Fund 8,612,200 22.966
Richard Pieris & Co.Ltd 5,629,000 15.011
Richard Pieris Distributors Ltd 3,750,937 10.002 Total 25% by Richard Pieris Group


windi5

windi5
Moderator
Moderator
Ok thanks guys for your information. cheers

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