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Harry Jayawardena - Child in Investments ?

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1Harry Jayawardena -  Child in Investments ? Empty Harry Jayawardena - Child in Investments ? Tue Jan 24, 2012 11:02 am

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics

Month ago he increased his stake in SPEN to 30%. After increasing to 30% anyone has to give a mandatory offer to purchase all the remaining shares @max price.
Later SPEN announced that they are going to exit from multibillions worth Colombo south port project.
Didn't Harry knew about that before ? It is 80% likely that on 27 of January most of the people will accept the mandatory offer. Harry wants that.
Is they have money to buy remaining shares ? Dist 100% sub is a main offer. To buy 70% DIST needs more than 30Bn rupees.
But when you consider DIST consolidated balance sheet do you find they have 30BN money ?
No huge difference between Current Assets and current liabilities. 2Bn
How they will find remaining money ?? Some one has to fuel the Dist subsidiary.

After mandatory offer Will they buy port stake again ?

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