Sri Lanka EPF buys 10% of Laugfs Gas Plc

Sandstorm · 1 Sri Lanka EPF buys 10% of Laugfs Gas Plc Mon Oct 10, 2011 1:56 pm

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http://lbt.lk/stock-market/deals/528-gas-deal

Oct 10, 2011 (LBT) - - Sri Lanka’s largest private sector retirement fund Employment Provident Fund (EPF) today purchased a 10% stake in the “Laugfs Gas Plc “,Superintendent of the EPF of the Central Bank Mrs. Rupa Deerasinghe told LBT.

The fund had purchased 33 Million shares of " Laugfs Gas Plc " at a value of 48 rupees per share (total 1584 million rupees ) to obtain a approximately 10% stake in the listed petroleum establishment , she said.

“Laugfs Gas Plc is a fundamentally strong company. Our EPF Fund management had recommended us to buy this share within the range of 48 rupees. EPF now controlling 17% (57.82 million shares) of the company “.

A major share of the Employment Provident Fund (EPF) (92%) has been invested in government securities, while the Fund has invested 7% of its resources in equities and 1% in debt instruments of corporates.

The Fund, reached Rs. 976 billion, recording an annual growth of 4.6%, said the Central Bank of Sri Lanka.

Last edited by mark on Mon Oct 10, 2011 9:00 pm; edited 1 time in total (Reason for editing : added the details of the link)

Universalgoal · 2 Re: Sri Lanka EPF buys 10% of Laugfs Gas Plc Mon Oct 10, 2011 3:12 pm

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but peaple who got the news first in troble now bcs it is comming back home

maddu · 3 Re: Sri Lanka EPF buys 10% of Laugfs Gas Plc Mon Oct 10, 2011 3:19 pm

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Yes. It should be... Panic sellers will learn good lesson.

Happy trading...!!

BeSmart · 4 Re: Sri Lanka EPF buys 10% of Laugfs Gas Plc Mon Oct 10, 2011 3:36 pm

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is the impact of this news is good or bad?

stockanalytic · 5 Re: Sri Lanka EPF buys 10% of Laugfs Gas Plc Mon Oct 10, 2011 3:46 pm

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BeSmart wrote:is the impact of this news is good or bad?

\
EPF buying- nothing significant. They bought it from Laugh holdings. So, market liquidity won't change. This is just changing hands. EPF bought GRAN -above 250 and 202. They are long term holders. For long run - LGL will be worth below 48/=. If they try to collect from the open market - then price will jump up.

Azthama · 6 Re: Sri Lanka EPF buys 10% of Laugfs Gas Plc Mon Oct 10, 2011 4:04 pm

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stockanalytic wrote:

BeSmart wrote:is the impact of this news is good or bad?

\
EPF buying- nothing significant. They bought it from Laugh holdings. So, market liquidity won't change. This is just changing hands. EPF bought GRAN -above 250 and 202. They are long term holders. For long run - LGL will be worth below 48/=. If they try to collect from the open market - then price will jump up.

You mean there's 0% impact on this crossing?? then what about issuing after quarterly accounts and they have perform well with the business itself,,? Smile

natsume · 7 Re: Sri Lanka EPF buys 10% of Laugfs Gas Plc Mon Oct 10, 2011 6:06 pm

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here is the official disclosure

http://www.cse.lk/cmt/uploadAnnounceFiles/821318243452_1020.pdf

pathfinder · 8 Re: Sri Lanka EPF buys 10% of Laugfs Gas Plc Mon Oct 10, 2011 6:32 pm

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good for long term.

rcharindu · 9 Re: Sri Lanka EPF buys 10% of Laugfs Gas Plc Mon Oct 10, 2011 6:49 pm

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stockanalytic wrote:

BeSmart wrote:is the impact of this news is good or bad?

EPF buying- nothing significant. They bought it from Laugh holdings. So, market liquidity won't change. This is just changing hands. EPF bought GRAN -above 250 and 202. They are long term holders. For long run - LGL will be worth below 48/=. If they try to collect from the open market - then price will jump up.

EPF buying is not the main point,What we should consider here is why Laugh Holding sold it's 10% stake.According to the last quarter report EPF only had 18,762,200 Shares and With today trade it should hold 51,762,200 but the LBT news says EPF have 57.82 million shares(17%),about 6M more shares.http://lbt.lk/stock-market/deals/528-gas-deal
Where do you think this 6M came from??? I think they collected this 6M between 40-43 range.If you have past trading data (at least 2 months) you can see there are lots of big quantity trades happen this price range.So i think EPF is bullish on LGL they will collect more shares to get at least 25% controlling power.There should be a hidden mutual agreement with government that is why Laugh holdings sold 10% stake...
We can expect a good news from LGL in near future..