Commercial Credit (COCR) - How did 'reference price' come?

cse.alpha

cse.alpha

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Commercial Credit (COCR) - How did 'reference price' come?

01-Jun-2011 Reference Price - COCR

The reference price of LKR. 25.40/= in respect of the ordinary voting shares has been decided upon by the Company.
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Does anyone know how this reference price was determined ?

Commercial Credit has 218 million shares in issue, and based on its unaudited 9 month results at 31st dec 2010, its book value per share is LKR 2.3 and its 9 month EPS is LKR 0.8

- So how did this 'reference price' of LKR 25.4 come ?

3 million shares traded today between LKR 25 - 45, with 2 million being traded at the market opening at LKR 25, with the promoters clearly being the sellers. Did they take advantage of the 'reference price' ?

Gaja

Gaja

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i also don't know how the reference price was calculated, all it say is it was decided by the management, but i never see any relationship and trading pattern specially on the 1st day of trading, because its well above reference prices

2011_NewComer

2011_NewComer

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Me too don't understand why they sold at 25(at start) if it is priced at 25.4 Question

TuskerLK

TuskerLK

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Gaja wrote:i also don't know how the reference price was calculated, all it say is it was decided by the management, but i never see any relationship and trading pattern specially on the 1st day of trading, because its well above reference prices

but it is always the case where the share trade way above the ref.price. just see 80 cent eps company trading away above the fair valuation.

Gaja

Gaja

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2-Jun-2011 Reference Price - MERC

The reference price of LKR. 1,562/= in respect of the ordinary voting shares has been decided upon by the Company. - Its interesting to see at what price this share going to trade today

Pira

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Hi
When you see the Book value per share from the MERC.N then the Price is with a small different the same price. It stays:1558.51 by the end of December 2010. Could it be that price?

Pira

Pira

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I think by cocr it's the Net Asse per share. I'm reading now their interduction document. they had a right issue for every one they get two for Rs. 10. after that they had a subdivision in 15 pices.

JennyFunny

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Guys we have to be aware that through an introduction generally..the existing shareholders are trying to offload some of there shares..
There could be some manipulation hence to push the price up..

Base on fundamentals..i would not buy this share..however for speculative purposes i would Smile

..
piece of advice..
Be careful when investing in these stocks..allocate only a small % of portfolio value..when trading these shares..

Happy Trading
Cheers

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Commercial Credit (COCR) - How did 'reference price' come?

1 Commercial Credit (COCR) - How did 'reference price' come? Wed Jun 01, 2011 4:30 pm

cse.alpha

2 Re: Commercial Credit (COCR) - How did 'reference price' come? Wed Jun 01, 2011 5:25 pm

Gaja

3 Re: Commercial Credit (COCR) - How did 'reference price' come? Wed Jun 01, 2011 7:46 pm

2011_NewComer

4 Re: Commercial Credit (COCR) - How did 'reference price' come? Wed Jun 01, 2011 8:12 pm

TuskerLK

5 Re: Commercial Credit (COCR) - How did 'reference price' come? Thu Jun 02, 2011 9:07 am

Gaja

6 Re: Commercial Credit (COCR) - How did 'reference price' come? Thu Jun 02, 2011 10:12 am

Pira

7 Re: Commercial Credit (COCR) - How did 'reference price' come? Thu Jun 02, 2011 10:56 am

Pira

8 Re: Commercial Credit (COCR) - How did 'reference price' come? Sun Jun 05, 2011 7:57 pm

JennyFunny

9 Re: Commercial Credit (COCR) - How did 'reference price' come?

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