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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Pathirage bought 5.6 million shares

Pathirage bought 5.6 million shares

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21Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 6:09 pm

econ


Global Moderator
@RIO wrote:
@ashlee wrote:Its a business conglomerate... One of my lecturers said few years back that Pathirage wants SHL to be right next to JKH.. I don't think he will leave his angel to go astray..

Trying to = with JKH is a Day dream of Damn Pathirage...even VONE cant come close to JKH in terms of credibility & reputation...!What a jocolor MR Pathirage...!


I dont think JKH is a credible company anymore.. JKH capital CT capital are the promoters of unethical IPOs of Expo and Softlogic.. and the JKH capital head Balendra try to defend his pricing on Expo too.
unfortunately this guy is the CSE chairman now.

22Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 7:11 pm

chandimal


Stock Trader
what will happen browns investment

23Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 7:14 pm

limestone


Manager - Equity Analytics
Manager - Equity Analytics
Is He buying to create an artificial demad to push the price to 29 level or higher to save his employees who bought @29 ?

24Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 7:27 pm

Chinwi


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@UKboy wrote:I really dont know whether I need to cry or laugh..

All I can see,

He is trying hard hold the falling fort (most probably by using IPO money).

You can laugh, if bought @ 18 and sold @ 25. That is all I can say about this drama. Smile


25Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 8:13 pm

Hiru


Manager - Equity Analytics
Manager - Equity Analytics
I bought at Rs 17.50 and sold at Rs 20 because I did not want to get more risk on this. I will try again if it touched Rs.15.

26Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 8:34 pm

pradeeptha_007


Equity Analytic
Equity Analytic
@sapumal wrote:Pathira is guy with fake personalty. He is GREG,Dilith, Nimal Perera type businessmen. I am not sure that he earn money from killing patients

We must salute Dhammika Perera. Perera didn't discriminate PP investors and poor retail investors.

Pathira might think that all of his products are bought by few high networth investors.

guys keep u r shares for at-lest for one months and i m sure AP will give u good return in future.

27Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 8:36 pm

pradeeptha_007


Equity Analytic
Equity Analytic
@Hiru wrote:I bought at Rs 17.50 and sold at Rs 20 because I did not want to get more risk on this. I will try again if it touched Rs.15.

bought @ 18.00 and sold it on 23.90

28Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 8:39 pm

pradeeptha_007


Equity Analytic
Equity Analytic
@ashlee wrote:Its a business conglomerate... One of my lecturers said few years back that Pathirage wants SHL to be right next to JKH.. I dont think he will leave his angel to go astray..

I'M SURE SHL WILL PASS JKH IN FUTURE.
shl will be the best diversified company in sri lanka

29Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 8:48 pm

ssuni

ssuni
Manager - Equity Analytics
Manager - Equity Analytics
this from www.dailymirror.lk..

However in an earlier interview with the Mirror Business, Soflogic Chairman and Managing Director Ashok Pathirage said that the price difference between the IPO price and offer price was solely due to valuations.

“The price difference is solely done on valuations. During the time we went for a private placement, the forecasted profit was around Rs.150-200 million. But for the year ended March 2010/11, we have made Rs.855 million after tax profit” Pathirage said.

“The IPO price is based on the expected net profit for FY 2011/12, which we anticipate to be Rs.1.8 billion. Our valuations are based on 12 times of P/E of the conglomerate sector. We are in fact giving our share at a 40 percent discount to the current P/E levels of conglomerates,” Pathirage added.

According to a five-year forecast of the company, the post tax profit is expected to go up to Rs.1.8 billion in 2012 and to Rs.2.7 billion in 2013. The expected profit in 2014 is Rs.3.1 billion.

and also..
http://forum.srilankaequity.com/t6648-softlogic-makes-expolanka-look-good#45247

30Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 9:27 pm

Rajaraam


Vice President - Equity Analytics
Vice President - Equity Analytics
Pradeeptha_oo7,
However now already goodwill of this company has been thoroughly damaged. Employees who obtained credit to buy shares are also disapointed and they are now angry with management. The management could have considered the comments made by small investers about extreemely high IPO price of several companies recently and issue at a reasonable price which subscribers also could earn a profit .Now they will have to redraft their busines plan and more waight in that need to be rebuild its reputation. If Emplyees have been efected and frustrated Company will have to plan for a remedy.

31Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Wed Jul 13, 2011 11:21 pm

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@econ wrote:
@RIO wrote:
@ashlee wrote:Its a business conglomerate... One of my lecturers said few years back that Pathirage wants SHL to be right next to JKH.. I don't think he will leave his angel to go astray..

Trying to = with JKH is a Day dream of Damn Pathirage...even VONE cant come close to JKH in terms of credibility & reputation...!What a jocolor MR Pathirage...!


I dont think JKH is a credible company anymore.. JKH capital CT capital are the promoters of unethical IPOs of Expo and Softlogic.. and the JKH capital head Balendra try to defend his pricing on Expo too.
unfortunately this guy is the CSE chairman now.

+ rep

More correctly, IMHO, JHK is an unethical company in respect to IPOs.

32Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 12:00 am

mark

mark
Expert
Expert
my ideas

*directors cant use company funds to buy shares,even company cant provide a loan without passing a resolution.so this is just a private deal

*Mr pathirage holding
--issued shares-779Mn
--pathirage hold before IPO-321Mn

--holding percentage before IPO-50.23%
--holding percentage after IPO-41.20%
so holding percentage got diluted,he may be trying to increase his holding over 50%,who knows Exclamation

btw,is there any crossings relate to SHL today?i was not aware scratch

33Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 12:07 am

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@mark wrote:directors cant use company funds to buy shares,even company cant provide a loan without passing a resolution.so this is just a private deal

+ rep. A point I wanted to make. However, many other valid points are there to analyse in this deal. For example pp issuing at 7.2 and getting ownership diluted, then buying from the market at 21 raises some Question in my mind. Don't you?

34Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 12:29 am

mark

mark
Expert
Expert
@Academic wrote:
@mark wrote:directors cant use company funds to buy shares,even company cant provide a loan without passing a resolution.so this is just a private deal

+ rep. A point I wanted to make. However, many other valid points are there to analyse in this deal. For example pp issuing at 7.2 and getting ownership diluted, then buying from the market at 21 raises some Question in my mind. Don't you?

*this is all wrong what is happened in PP, private placements are only for investment purpose not for resale,pp was issue for collect intelligent investors(HNWI with reputed profiles) or try to keep company control among strategic investors(sometimes relatives)... practice in srilanka context is wholly wrong Evil or Very Mad

*actually the pp was issued at 72Rs,then after it was splitted 1 to 10,so no change in ownership percentage,but IPO made it diluted,so pathirage lost the 50% control over the shareholding(50% need for pass ordinary resolution,but there is exceptions against majority rule(foss vs harbottle case law)..

so i feel this is done for increase his holding,but indirectly it increase the share price..
btw is today crossings of SHL Question Question Question

35Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 1:16 am

windi5

windi5
Moderator
Moderator
How long he gonna do this. They have issued more than 100m shares,he has bought only 5m. if this up trend to continue he has to pump more money and buy shares. This is not good for the company image and his own,but no body to blame but himself, by creating a pp at a lower price. now he might be shamed,any way his basket was filled with 4b by our poor investors, so he should be happy too.

36Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 5:27 am

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
unless SHL make some profits from the PP they do not accommodate private placements…….

37Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 6:07 am

nkalansu


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Shame on AKP, Shame on JK Capital, Shame on CT Capital, Shame on all the promoters of SOFT in this forum (Shoe shine boys)...........

38Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 6:14 am

nkalansu


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I think this is clear manipulation....

After issuing shares to public and his employees at Rs. 29/= AKP is buying below Rs. 29/=. And at the same time he justifies the price Rs. 29/=. If he wants to buy from the market what he should be doing is he should contact his private placement people and ask them to sell him via crossings at Rs. 29/=..............If he justifies the price Rs. 29/=. What do you guys say....? Then he is a hero....

He should not be allowed to buy from the market below Rs. 29/= SEC should take some action...... thanks to my knowledge in finance i did not buy this.



Last edited by nkalansu on Thu Jul 14, 2011 10:40 am; edited 5 times in total (Reason for editing : Removed inappropriate words)

39Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 8:26 am

promode


Stock Trader
What we can learn from AKP buying 5.6 m shares is, By his heart he knows the shares were overpriced. He would have been a HERO if he bought for 29/= from PP guys he knows well.. or even stop them selling far below the issued price at IPO.

40Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 10:02 am

pradeeptha_007


Equity Analytic
Equity Analytic
@Rajaraam wrote:Pradeeptha_oo7,
However now already goodwill of this company has been thoroughly damaged. Employees who obtained credit to buy shares are also disapointed and they are now angry with management. The management could have considered the comments made by small investers about extreemely high IPO price of several companies recently and issue at a reasonable price which subscribers also could earn a profit .Now they will have to redraft their busines plan and more waight in that need to be rebuild its reputation. If Emplyees have been efected and frustrated Company will have to plan for a remedy.

Rajaraam-
i agree with u most of the employee have obtained credit to purchase shares and most of them were planning to sell those when they reach their BEP. And i m sure employees are so disappointed (as i think some employee who are running for money) with management. looking at yesterday i think by next week AP will some how bring the price up to 28 - 30.

41Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 11:11 am

Genting


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
How I see is this situation is due to unethical behavior of Carson group. They are supposed to be investors, not traders who sells shares on the first day. If anyone knew they they are going to be like that, no one wold have offered them shares.

Seems like they have sold almost all of their shares. So I don't think SHL will come down in the near future.

The other comment I like to add is regarding Pathirage purchasing of shares.

Its not only Pathirage, Dammika also has been purchasing shares of his company. He bought 1mn @ 33.50 when it was falling from 38.

I think Pathirage is clever, purchasing from Carsons, who made the price bellow the IPO price.

42Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 12:20 pm

pradeeptha_007


Equity Analytic
Equity Analytic
@Genting wrote:How I see is this situation is due to unethical behavior of Carson group. They are supposed to be investors, not traders who sells shares on the first day. If anyone knew they they are going to be like that, no one wold have offered them shares.

Seems like they have sold almost all of their shares. So I don't think SHL will come down in the near future.

The other comment I like to add is regarding Pathirage purchasing of shares.

Its not only Pathirage, Dammika also has been purchasing shares of his company. He bought 1mn @ 33.50 when it was falling from 38.

I think Pathirage is clever, purchasing from Carsons, who made the price bellow the IPO price.


Very Happy agree with u

43Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 1:09 pm

godswen

godswen
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@mark wrote:
*actually the pp was issued at 72Rs,then after it was splitted 1 to 10,so no change in ownership percentage,but IPO made it diluted,so pathirage lost the 50% control over the shareholding(50% need for pass ordinary resolution,but there is exceptions against majority rule(foss vs harbottle case law)..

so i feel this is done for increase his holding,but indirectly it increase the share price

That also make sense, so he bought at lower price than of IPO price which made him to increase his holding as well as the share price? anyways yesterday was a good day for me, and for most of em i guess. 20% gain? Hope the drama will continue on Friday! Will see!

Cheers!

44Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 1:14 pm

seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Genting wrote:How I see is this situation is due to unethical behavior of Carson group. They are supposed to be investors, not traders who sells shares on the first day. If anyone knew they they are going to be like that, no one wold have offered them shares.

Seems like they have sold almost all of their shares. So I don't think SHL will come down in the near future.

The other comment I like to add is regarding Pathirage purchasing of shares.

Its not only Pathirage, Dammika also has been purchasing shares of his company. He bought 1mn @ 33.50 when it was falling from 38.

I think Pathirage is clever, purchasing from Carsons, who made the price bellow the IPO price.

This all disaster, as we all know due to high IPO pricing compare to PP price (nearly 300% return). Investors who were allocated through the PP have been waiting more than one year. Who will miss the opportunity to get 300% in one year.

140Mn shares were issued through private placement, out of that Carson funds hold 28mn which is nearly 20%. Ok If CARS funds did not sell, there are other plenty of individual investors are in the list and ready to sell in the first day to grab opportunity (300 % return in one year, who give?.)

So CARS funds used the opportunity, However as a Professional Fund Manager may wait 2or3 and sell. Further i don't think CARS did not sell through the trading floor, those would have been done through private deals ( since the holding qty is high),trading floor transaction mainly from the PP individual.

In my view AP has to take all the blame,that pricing IPO @ high price.

45Pathirage bought 5.6 million shares - Page 2 Empty Re: Pathirage bought 5.6 million shares Thu Jul 14, 2011 2:33 pm

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
@Liber Abaci wrote:

This is not simple logic.
In an IPO the subscription money ( @ 29/- per share ) goes to the Company, not to existing shareholders.
The purchases by Mr Pathirana ( @ 21 /- ) is through his money. He won't benefit ditectly through this transaction ,as implied by you.

I have thanked you for showing this. I feel sortry about you.

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