Thank you for the further clarifications, and I'm sorry, if I messed up the "meaning of your writing ". Since the "meanings" are still not clear to me , even after your clarification, I hope you won't mind taking this discussion little further.
You are of the opinion, that The part which he had gone wrong was the IPO pricing.That decision was Utterly (completely, absolutely) Absurd (ridiculous or nonsense)
Now, let us look at the timing and fundamentals of this IPO decision.
1.At some stage in the recent past , Board of Directors of Softlogic , has made a decision to expand operations and to raise funds through a private / public issue of new shares of the company. Since Mr Pathirana as chairman and major shareholder , is the ultimate decision maker, we will refer only to him.
2. At a partucular day in the past, Mr pathirana has decided the offer price @ Rs 7.20 per share, and have offered ..... no. of shares to certain private investors ,and after making their own evaluations and judgement
all or some of the private investors have fully contributes to the private placement. since the PP has been fully subscribed Mr Pathirana's judgeemnt on share price , was beneficial to Softlogic and he proceeded with the next action.
3. at a particular day after 2 above
, Mr Pathirana has decided, based on some new facts and forecasts , the intrinsic value of the share to be Rs 29/- , and has offered ....no. of shares to general public through CSE. Mr Pathirana has given certain information relating to the company and its business through The Prospectus , (accepted by the regulator). In addition to the information given in the prospectus ,he clarified, through press conference and newspapers , his reasons
for pricing shares @7.20 for the private placement , and pricing of 29.00 for the public issue
4. Some members of the general public including Fund Managers , Institutional investors and individual investors have contributed to the public issue @rs 29.00 after carefully going through the Prospectus and subsequent clarifications /disclosures on IPO price
, of Mr Pathirana. Before making the decision , they have carefully studied the information available to them, examined the background of the company, it's past financial performance, it's current business standing, future prospects of the company and the industryand ....Country situation etc, . As implied by most of the Forum members,
probably they have taken into account the future happenings of Asian Financial markets , Greece, debt ceiling issue in US as well.
5.The IPO has fully /over subscribed . The Company, Softlogic
has raised targeted fund requirement through private / public placement , and now in a position to implement its plans to achieve forecast financial results. It can be reasonably concluded that as Chairman of the Company, Mr Pathirana has been prudent in his judgments and has successfully discharged his primary duties towards shareholders of the company, for which he is accountable.
Now ... the entertainment side .
At the opening day of trading of Softlogic shares ,ie on 12 th July , the price came down to Rs 16/ - levels , and closed @ around Rs 18 /- .
As to our knowledge, after the IPO closing date
,Mr Pathirana / Softlogic has not done any thing to adversely affect the share price of the company. We are all fully aware share price of a particular stock on a particular day , is decided by various factors, ( including happenings in Greece ...as fully described in the posts/ comments in the Forum).
So I am still confused ,... is there any basis to criticize.. , blame.. , ridicule.. Mr Pathiran's decisions .
Can you clarify, taking into account above facts ?
The second point. To ur second question, I'm not saying only knowledgeable ppl should do share trading, any1 can.. only difference is ppl who dont study the share market and invest may need help from someone else otherwise u know where the dumb money goes..
May be you are not saying,..... But I am strongly saying , only those who are knowledgeable in risks and returns , and willing to take a calculated risk, in anticipation a return ( above risk free return ) at a future date, should deal in shares .
. I don't think any one can depend on help from someone
. Who is this someone ?
Brokering company Advisors ? stock brokers ? "Experts ' of this Forum ? If I get their advice and loose money what's their accountability ?
(That's why mutual funds are there .)