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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » PC House buys 51% of Orient Garments for Rs.600mn

PC House buys 51% of Orient Garments for Rs.600mn

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thilankad

thilankad
Manager - Equity Analytics
Manager - Equity Analytics
P.C. House Holdings and its Chairman S.H.M. Rishan have bought 51% of Finco Group’s Orient Garments (OGL) for nearly Rs.600 million yesterday. The sellers were believed to be Finco group lead subsidiaries and the transaction was completed around 1.43 p.m. whilst over 28.5 million shares of OGL crossed at Rs.21.50 in several blocks.

Speaking to Mirror Business S.H.M. Rishan said that he and his group personally bought the 51% of OGL, in a bid to expand its regional operations in to Bangladesh and China.

PC House Holdings, the parent of listed PC House (PCH) bought 12 million shares and S.H.M. Rishan said he bought 16 million shares of the OGL.

“We got few offers from Bangladesh and China, and we will soon set up operations in Bangladesh and an International Procurement Office (IPO) in China” Rishan added.

According to Managing Director of OGL Priyanjith Weerasooria, Rishan’s acquisition of OGL has come at a time when OGL group was looking in to a partner for regional expansion.

“Finco group will continue with its remaining 19% stake of the company and I will be on board during this smooth transition period until the company expands in to region” he said.

http://print.dailymirror.lk/business/127-local/51839-pc-house-buys-51-of-orient-garments-for-rs600mn.html

http://thilankadinush.blogspot.com/

windi5

windi5
Moderator
Moderator
Ha Ha Mr.Rishan use IPO money wisely. He also seems want to form a conglomerate. Its good,post war SL, we see lots of holding companies ar are pop up. But he has to his computer business more professionally than this.Any way its bit better now than earlier . I love you

sajeethk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
But there is no purchase under PCH. Only purchase Mr Rishan and PCH parent company. will it impact increase of PCH share

windi5

windi5
Moderator
Moderator
Yea it might,some appreciation yesterday itself

invest-abc


Manager - Equity Analytics
Manager - Equity Analytics
@sajeethk wrote:But there is no purchase under PCH. Only purchase Mr Rishan and PCH parent company. will it impact increase of PCH share

Should not.....nothing to do with PCH...

karu


Senior Equity Analytic
Senior Equity Analytic
No sellers Neutral Neutral

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@windi5 wrote:Ha Ha Mr.Rishan use IPO money wisely. He also seems want to form a conglomerate. Its good,post war SL, we see lots of holding companies ar are pop up. But he has to his computer business more professionally than this.Any way its bit better now than earlier . I love you
How can he use the IPO money? This transaction was not done by PCH.

hashan2012

hashan2012
Manager - Equity Analytics
Manager - Equity Analytics
Oh Rishan has Lost More than 60 %

No


Senior Equity Analytic
Senior Equity Analytic
@hashan2012 wrote:Oh Rishan has Lost More than 60 %
If he want he can make 100% profit within week.

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Perhaps Senthi and others should have accepted the mandatory offer

Now a good price. Can anyone confirm if OGL is buying PC House shares or is it just false rumour?

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