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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » ERI parent Lionhart, PC House in win-win deal

ERI parent Lionhart, PC House in win-win deal

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thusit

thusit
Stock Analytic
Stock Analytic
In a seemingly mutually beneficial deal, ERI’s parent and PC House bought stakes in each other yesterday whilst overall investor interest on the two also boosted turnover.
ERI’s controlling shareholder Lionhart shed 1.5% stake or 4.5 million shares in ERI at Rs. 68 each as well as 5 million warrants at Rs. 32.60 each to PC House for Rs. 469 million. In turn PCH House major shareholder M. Rishan sold 9.6% stake or 22 million shares in the company to Lionhart at Rs. 22 each in a deal worth Rs. 486 million. The two counters overall accounted for slightly over 30% of the day’s turnover. PC House saw 28.5 million of its shares traded for Rs. 611.25 million whilst ERI saw 6 million of its shares traded for Rs. 414 million.

PC House share price rose by 30 cents or 1.55% to close at Rs. 19.70 after hitting a peak of Rs. 20.60. ERI purchase was done via crossing of 21.1 million at Rs. 22 each whilst the ERI block too was traded via crossing. The share price of Environmental Resources increased by Rs. 3.20 (4.75%) and closed at Rs. 70.10.


I think this is well plan deal.
so stake is less than 10% can they sell shares in next day ?

FXX

FXX
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
These shares will slowly end in Retailers hands, its a win win deal for Mr Lionhart and Rishan, there is a huge possibility both share prices will go up further so both of them can do the profit taking

Schweiger


Equity Analytic
Equity Analytic
another dump at 24-26 levels???/

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Rishan and Lionhart must be thinking this is the Land of the Apes.

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