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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Why Mr Pathirage still think that we are fool... He cannot justify what he has done

Why Mr Pathirage still think that we are fool... He cannot justify what he has done

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wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
A company’s Private Placements (PP) should be imposed a lock in period from the date the firm goes public, which will prevent its share price from falling after trading on the Colombo Stock Exchange (CSE), according to a top entrepreneur and businessman.

“There should be a lock in period for PP from the date of listing a company on the CSE,” Ashok Pathirage, Chairman Softlogic Holdings PLC, which recently went public two months ago, told the Business Times.

Speaking about Softlogic’s share price dip after its Initial Public Offering (IPO) he said that many PP investors decided to cash in and profit immediately after the company started trading, causing its share price to drop. As at now, many other firms which had PP before IPO are also trading below their issue price.

"Companies need to make sure that PP investors are here for a decent period of time and not merely to make a 'fast buck," Mr. Pathirage noted, adding that otherwise the regulators should bring in rules preventing the PP investors from selling immediately after the share starts trading.

“This (share price drops witnessed during the past few months in firms which had PP before going public) is a good lesson for all,” he added. On Softlogic’s performance, he said that Softlogic is on target to achieve Rs. 1.7 billion profit. “Softlogic after listing has seen a lot of foreign buying interest and (when share prices are down) it’s a great time to buy,” he added. Softlogic concluded a Rs 1 billion private placement to sell 21% in late 2009 ahead of the 137.9 million shares IPO which will be sold at Rs 29 per share. The Rs 4.031 billion which was erased, he said was used to retire debt.

His latest acquisition, Asian Alliance Insurance Company (AAIC), he said will not be rebranded it. “About their healthcare sector, Mr. Pathirage added that the Asiri brand wants to go international. “We are scouting Bangladesh for opportunities," he added. He said more leisure acquisitions are being eyed by Softlogic, as their target is 1,500 rooms within the next five years.

http://www.sundaytimes.lk/110821/BusinessTimes/bt03.html



Last edited by wiki on Mon Aug 22, 2011 7:04 am; edited 1 time in total

limestone

limestone
Manager - Equity Analytics
Manager - Equity Analytics

rather than accusing those who subscribed for softlogic private placement, He could have fixed a much more realistic price for the IPO issue

Genting


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
wonder what happen to SHL employees who subscribed to the IPO by taking loans from softlogic finance.

econ

econ
Global Moderator
I wonder why these journilist do not ask why he set up over priced IPOs and lower priced PP s to his friends..

investor1984

investor1984
Manager - Equity Analytics
Manager - Equity Analytics
@econ wrote:I wonder why these journilist do not ask why he set up over priced IPOs and lower priced PP s to his friends..


Yes PP price was at a absurd level. But these guys who invest in companies, aren't they risk takers??? shouldn't they be rewarded for that risk????

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@investor1984 wrote:
@econ wrote:I wonder why these journilist do not ask why he set up over priced IPOs and lower priced PP s to his friends..

Yes PP price was at a absurd level. But these guys who invest in companies, aren't they risk takers??? shouldn't they be rewarded for that risk????

I was arguing over this freaky IPO pricing by Mr. Pathirage on softlogic launch on another thread but the guy was not in to believe it Wink .. I'm sure if you ask Mr. Pathirage he may have few strategic reasoning to put down the counter attacks one being the value of softlogic at that time was low Twisted Evil
However superb he may have been in his management decisions, the poor pricing on SHL lead to another disaster.. It was not a bad company but that decision it self was way absurd to the retailers.. Once you've done a silly mistake, there's no point it safeguarding the decision but to make some amendments to that.

1 year lock in rule was already there right?

investor1984

investor1984
Manager - Equity Analytics
Manager - Equity Analytics
@smallville wrote:
@investor1984 wrote:
@econ wrote:I wonder why these journilist do not ask why he set up over priced IPOs and lower priced PP s to his friends..

Yes PP price was at a absurd level. But these guys who invest in companies, aren't they risk takers??? shouldn't they be rewarded for that risk????

I was arguing over this freaky IPO pricing by Mr. Pathirage on softlogic launch on another thread but the guy was not in to believe it Wink .. I'm sure if you ask Mr. Pathirage he may have few strategic reasoning to put down the counter attacks one being the value of softlogic at that time was low Twisted Evil
However superb he may have been in his management decisions, the poor pricing on SHL lead to another disaster.. It was not a bad company but that decision it self was way absurd to the retailers.. Once you've done a silly mistake, there's no point it safeguarding the decision but to make some amendments to that.

1 year lock in rule was already there right?


Yes Locking period is there, but not from the First Trading Date.. Its one Year from the private placement date. What these companies do is , they do these PP year before the listing So the PP guys can sell their stake without a fuss

Rajaraam


Vice President - Equity Analytics
Vice President - Equity Analytics
@investor1984 wrote:
@econ wrote:I wonder why these journilist do not ask why he set up over priced IPOs and lower priced PP s to his friends..


Yes PP price was at a absurd level. But these guys who invest in companies, aren't they risk takers??? shouldn't they be rewarded for that risk????

Rather than risk takers we can identify now them as reward takers.(Coz they were good friends or any other reason which we donot know)If the PP PRICE is considered as a price with a heavy risk how did the management fix IPO price as high as 29/-On what basis?

kaka


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Eventhough he fixed the IPO price at 29/-, he is buying 23-25.

Can we can them as Professional???/ Professinal Frauds??????????

CHASE

CHASE
Manager - Equity Analytics
Manager - Equity Analytics
@kaka wrote:Eventhough he fixed the IPO price at 29/-, he is buying 23-25.

Can we can them as Professional???/ Professinal Frauds??????????

I think he did a Gentleman work even though he made a mistake by pricing the IPO at 29.00. If he didn't buy at that price probably it'll trade below 20 now. I appreciate his work coz he didn't dump it back from the top.

investor1984

investor1984
Manager - Equity Analytics
Manager - Equity Analytics
@kaka wrote:Eventhough he fixed the IPO price at 29/-, he is buying 23-25.

Can we can them as Professional???/ Professinal Frauds??????????


Well he didnt force anyone to sell below 29/- did he???? He is confident about his company.. That why he is buying in to it... Unlike rishan who brag about future prospects about PCH , he seold down his stake... Thats a big question mark, if he so confident about his company why is he reducing his stake??? This is a red light.. I think he is exiting from his own company, Even Nimal P didnt want to hold PCH for 24 hours.

soileconomy

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics
due to this fact I personaaly do not want to invest a single cent in Softlogic Finance , no electronic items from softlogic , no Insurance policy from Asian Alliance Insurance nothing realted to Ashok.

Becoz what he did yesterday , he might do it tomorrow even to these companies.

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Hey guys, It's nice to hear so many comments about softlogic and it's pricing.
'good things don't come cheap'
It's not about buying a cheap and fake addidas or a rolex from the streets of sukumvit, it's about buying genuine ballys or tag heuer from the orchard road. I will put my money in softlogic. I am looking forawrd to subscribe to the softlogic capital IPO.

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Quibit wrote:Hey guys, It's nice to hear so many comments about softlogic and it's pricing.
'good things don't come cheap'
It's not about buying a cheap and fake addidas or a rolex from the streets of sukumvit, it's about buying genuine ballys or tag heuer from the orchard road. I will put my money in softlogic. I am looking forawrd to subscribe to the softlogic capital IPO.

OK , I will follow you and subscribe Softlogic Capital.
With the profit I will go to Sukhumvit and find a real adi-das in Soi Nana or Soi Cowboy . Wink






UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Quibit wrote:Hey guys, It's nice to hear so many comments about softlogic and it's pricing.
'good things don't come cheap'
It's not about buying a cheap and fake addidas or a rolex from the streets of sukumvit, it's about buying genuine ballys or tag heuer from the orchard road. I will put my money in softlogic. I am looking forawrd to subscribe to the softlogic capital IPO.

Oh QB, Rolling Eyes scratch

BTW good things are expensive to buy but price depreciate so rapidly.
Does the same thing apply to SHL group? Wink

bePositive

bePositive
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
It will be a wise decision to buy more of SHL at this price. I strongly believe despite so many in P/P, this is a very valuable share for the future.This reminds me of foreign shares like Microsoft, Research in Motion(RIM), and IBM.

http://www.viabletraffic.com

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
He created a safe window for PP investors by placing the IPO price at higher level. This could be a agreed deal..

I see no point in crying for change a rule after doing all the damn thing

@ Quibit
This is about good thing made cheaper for PP guys but making the same good thing a nightmare for IPO subscribers (basically retailers).

This is not about SHL current price but the IPO price

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