Chairman, Directors cash in before Asia Asset bursts

Speculative star Asia Asset Finance yesterday saw its value plunge by 62% to Rs. 5.50 after hitting a peak of Rs. 8.90.

The bizarre performance of Asia Asset Finance has baffled the market as it was the only IPO to be undersubscribed in recent years despite its share priced at Rs. 2.50.

On Tuesday when the price hit a high of Rs. 8.50 among those who cashed in were Chairman Mano Nanayakkara (two million shares sold at Rs. 7.78), S. Abeyesinghe (two million shares at Rs. 7.94) and Priyanthi Pieris (400,000 shares at prices ranging between Rs. 8.50 and Rs. 8.20 each)

Professional manipulation! from start to end nicely executed!!

This will be a very good case study for all new investors.

e.g. how they tricked to show that price would go even higher with "no sellers" on Tuesday before the burst (or just after the burst)

Retailers should have existed at 6.50-7 l without running further. Tanha jayathi soko.....it will come down to below 3 L very soon. Any body want to average buy at that time.

gada wrote:Professional manipulation! from start to end nicely executed!!

This will be a very good case study for all new investors.

e.g. how they tricked to show that price would go even higher with "no sellers" on Tuesday before the burst (or just after the burst)

Happy Pancha wrote:Speculative star Asia Asset Finance yesterday saw its value plunge by 62% to Rs. 5.50 after hitting a peak of Rs. 8.90.

The bizarre performance of Asia Asset Finance has baffled the market as it was the only IPO to be undersubscribed in recent years despite its share priced at Rs. 2.50.

On Tuesday when the price hit a high of Rs. 8.50 among those who cashed in were Chairman Mano Nanayakkara (two million shares sold at Rs. 7.78), S. Abeyesinghe (two million shares at Rs. 7.94) and Priyanthi Pieris (400,000 shares at prices ranging between Rs. 8.50 and Rs. 8.20 each)

If the above is true, then SEC should investigate immediately the reason for the rally and who are the main players. this is a day robbery and white color crime.

mra wrote:

Happy Pancha wrote:Speculative star Asia Asset Finance yesterday saw its value plunge by 62% to Rs. 5.50 after hitting a peak of Rs. 8.90.

The bizarre performance of Asia Asset Finance has baffled the market as it was the only IPO to be undersubscribed in recent years despite its share priced at Rs. 2.50.

On Tuesday when the price hit a high of Rs. 8.50 among those who cashed in were Chairman Mano Nanayakkara (two million shares sold at Rs. 7.78), S. Abeyesinghe (two million shares at Rs. 7.94) and Priyanthi Pieris (400,000 shares at prices ranging between Rs. 8.50 and Rs. 8.20 each)

If the above is true, then SEC should investigate immediately the reason for the rally and who are the main players. this is a day robbery and white color crime.

how do you say so ???? just by doing buying and selling when you want is their choise......its the retaillers are the fools to go behide them and burn their fingers ......i dont think that they have done anything wrong.......

What about the media, stock market reports written by your brokers. Did they ever talk about the value of this company? What's going on? Did the stock market reports ever tell you anything about this?
No. They only said stock went up by X% and recorded this much turnover...
Did any stock market brokers, newspapers educate the public?
NO

aj wrote:What about the media, stock market reports written by your brokers. Did they ever talk about the value of this company? What's going on? Did the stock market reports ever tell you anything about this?
No. They only said stock went up by X% and recorded this much turnover...
Did any stock market brokers, newspapers educate the public?
NO

thats the best example to show that brokers are dont care about the clients of them .....they only want some bussiness to happen and earn thats all

wikum100 wrote:

mra wrote:

Happy Pancha wrote:Speculative star Asia Asset Finance yesterday saw its value plunge by 62% to Rs. 5.50 after hitting a peak of Rs. 8.90.

The bizarre performance of Asia Asset Finance has baffled the market as it was the only IPO to be undersubscribed in recent years despite its share priced at Rs. 2.50.

On Tuesday when the price hit a high of Rs. 8.50 among those who cashed in were Chairman Mano Nanayakkara (two million shares sold at Rs. 7.78), S. Abeyesinghe (two million shares at Rs. 7.94) and Priyanthi Pieris (400,000 shares at prices ranging between Rs. 8.50 and Rs. 8.20 each)

If the above is true, then SEC should investigate immediately the reason for the rally and who are the main players. this is a day robbery and white color crime.

how do you say so ???? just by doing buying and selling when you want is their choise......its the retaillers are the fools to go behide them and burn their fingers ......i dont think that they have done anything wrong.......

IF SO I DON'T THINK WE EVER NEED A WATCH DOG TO MONITOR. THEN WHAT IS ALL ABOUT THESE INVESTIGATION ON MANIPULATION SEC TALK ABOUT....

When CSE investigation everybody miss the bus..... same thing happen to GREG

I think AAf is very good share and it has very rocky future.withing next two or three moths it would trade around 20 range.

Why you didn't tell earlier.You come to say la bla bla after it went to 7 again. You told that greg would up to 45.So what happened. Now come with another share. Shame on you.........you never learn..

krishan Aakash wrote:I think AAf is very good share and it has very rocky future.withing next two or three moths it would trade around 20 range.

krishan Aakash wrote:I think AAf is very good share and it has very rocky future.withing next two or three moths it would trade around 20 range.

ishh....keep quite and buy. if you made it public, there won't be any shares left for you to buy....

krishan Aakash wrote:I think AAf is very good share and it has very rocky future.withing next two or three moths it would trade around 20 range.

aiyo if you had told this earlier I would have got money from friends and subscribed for the whole issue.
surprised you didn't though!

wikum100 wrote:

mra wrote:

Happy Pancha wrote:Speculative star Asia Asset Finance yesterday saw its value plunge by 62% to Rs. 5.50 after hitting a peak of Rs. 8.90.

The bizarre performance of Asia Asset Finance has baffled the market as it was the only IPO to be undersubscribed in recent years despite its share priced at Rs. 2.50.

On Tuesday when the price hit a high of Rs. 8.50 among those who cashed in were Chairman Mano Nanayakkara (two million shares sold at Rs. 7.78), S. Abeyesinghe (two million shares at Rs. 7.94) and Priyanthi Pieris (400,000 shares at prices ranging between Rs. 8.50 and Rs. 8.20 each)

If the above is true, then SEC should investigate immediately the reason for the rally and who are the main players. this is a day robbery and white color crime.

how do you say so ???? just by doing buying and selling when you want is their choise......its the retaillers are the fools to go behide them and burn their fingers ......i dont think that they have done anything wrong.......

U must be kidding.At least please have a back bone to tell wrong for the wrong action.
And check this link also,then we can understand this highly intelligent person's true colours,
http://forum.srilankaequity.com/t15092-dont-worry-guys-epf-etf-onthe-way-collect-now#98345

i must agree with wikum100 on certain things here.

The directors 'could' have had a hand in the rally. Who can be sure?
Although it does appear to be a fake rally (manipulated one), since the initial issue was not successful.
Yet, the volumes traded were very large. But think, why should the retailers who did not want to buy at 2.50 wanted to buy all the way up to 8?

They wanted a quick buck and some would have gained and some lost. It depends on their luck, timing and intelligence (or foolishness)

These type of rallies have been there in the past and it's about time people learnt these at least the hard way.

The media could do something about it but even they cannot simply allege that it is manipulation without evidence. It may be a shortcoming of the watchdog that it hasn't proved anything.

I did not buy this at 2.50. I wanted to try my 'luck' with this and bought a small qty at 7.30. It went up to 8 but then came down and I sold at the price I bought with a slight loss. I did not complain since it was at my risk.

npp wrote:i must agree with wikum100 on certain things here.

The directors 'could' have had a hand in the rally. Who can be sure?
Although it does appear to be a fake rally (manipulated one), since the initial issue was not successful.
Yet, the volumes traded were very large. But think, why should the retailers who did not want to buy at 2.50 wanted to buy all the way up to 8?

They wanted a quick buck and some would have gained and some lost. It depends on their luck, timing and intelligence (or foolishness)

These type of rallies have been there in the past and it's about time people learnt these at least the hard way.

The media could do something about it but even they cannot simply allege that it is manipulation without evidence. It may be a shortcoming of the watchdog that it hasn't proved anything.

I did not buy this at 2.50. I wanted to try my 'luck' with this and bought a small qty at 7.30. It went up to 8 but then came down and I sold at the price I bought with a slight loss. I did not complain since it was at my risk.

rijayasooriya wrote:

npp wrote:i must agree with wikum100 on certain things here.

The directors 'could' have had a hand in the rally. Who can be sure?
Although it does appear to be a fake rally (manipulated one), since the initial issue was not successful.
Yet, the volumes traded were very large. But think, why should the retailers who did not want to buy at 2.50 wanted to buy all the way up to 8?

They wanted a quick buck and some would have gained and some lost. It depends on their luck, timing and intelligence (or foolishness)

These type of rallies have been there in the past and it's about time people learnt these at least the hard way.

The media could do something about it but even they cannot simply allege that it is manipulation without evidence. It may be a shortcoming of the watchdog that it hasn't proved anything.

I did not buy this at 2.50. I wanted to try my 'luck' with this and bought a small qty at 7.30. It went up to 8 but then came down and I sold at the price I bought with a slight loss. I did not complain since it was at my risk.

I do not expect multiple smileys from a moderator. I remember even Quibit mentioning such a thing. Maybe excludes mods. But then again would appreciate a few words if you have anything to say.

npp wrote:

rijayasooriya wrote:

npp wrote:i must agree with wikum100 on certain things here.

The directors 'could' have had a hand in the rally. Who can be sure?
Although it does appear to be a fake rally (manipulated one), since the initial issue was not successful.
Yet, the volumes traded were very large. But think, why should the retailers who did not want to buy at 2.50 wanted to buy all the way up to 8?

They wanted a quick buck and some would have gained and some lost. It depends on their luck, timing and intelligence (or foolishness)

These type of rallies have been there in the past and it's about time people learnt these at least the hard way.

The media could do something about it but even they cannot simply allege that it is manipulation without evidence. It may be a shortcoming of the watchdog that it hasn't proved anything.

I did not buy this at 2.50. I wanted to try my 'luck' with this and bought a small qty at 7.30. It went up to 8 but then came down and I sold at the price I bought with a slight loss. I did not complain since it was at my risk.

I do not expect multiple smileys from a moderator. I remember even Quibit mentioning such a thing. Maybe excludes mods. But then again would appreciate a few words if you have anything to say.

Those are called emoticons which would give thousands meaning to an intelligent person and there is no reason to drag moderatorship in to this issue unless there is ____(I can not find a good emoticon)

@npp, not the media.. when suddenly price went like a rocket with in two/three dsys why SEC cannot investigate.. They know the real valvue of the share, IPO price.. so they can see why these price moving very fast. any good news from the company, last quater profit..or any reason...?? if not that is manipulation.. retailors go behind the rally,, when price moving ..thinking it will go further ( with out studying the share).. yes these types of rallies past also ...but no action... the CSE trying to take the action after all the harm done.

rijayasooriya wrote:

npp wrote:

rijayasooriya wrote:

npp wrote:i must agree with wikum100 on certain things here.

The directors 'could' have had a hand in the rally. Who can be sure?
Although it does appear to be a fake rally (manipulated one), since the initial issue was not successful.
Yet, the volumes traded were very large. But think, why should the retailers who did not want to buy at 2.50 wanted to buy all the way up to 8?

They wanted a quick buck and some would have gained and some lost. It depends on their luck, timing and intelligence (or foolishness)

These type of rallies have been there in the past and it's about time people learnt these at least the hard way.

The media could do something about it but even they cannot simply allege that it is manipulation without evidence. It may be a shortcoming of the watchdog that it hasn't proved anything.

I did not buy this at 2.50. I wanted to try my 'luck' with this and bought a small qty at 7.30. It went up to 8 but then came down and I sold at the price I bought with a slight loss. I did not complain since it was at my risk.

I do not expect multiple smileys from a moderator. I remember even Quibit mentioning such a thing. Maybe excludes mods. But then again would appreciate a few words if you have anything to say.

Those are called emoticons which would give thousands meaning to an intelligent person and there is no reason to drag moderatorship in to this issue unless there is ____(I can not find a good emoticon)

if you want to talk about it, first know the difference between smileys and emoticons.
and yes i can understand what the smiley means but did not realise you had 9 faces.

no wonder the forum is like this when you as a moderator set an example against etiquette.

still there is no constructive reply to what I posted other than useless stuff.

I also realize that no point in asking for a reply from you as it will serve no purpose. So i'll sign this off.

krishan Aakash wrote:I think AAf is very good share and it has very rocky future.withing next two or three moths it would trade around 20 range.

GREG promotion is finsh...now came to AAF...

manula wrote:@npp, not the media.. when suddenly price went like a rocket with in two/three dsys why SEC cannot investigate.. They know the real valvue of the share, IPO price.. so they can see why these price moving very fast. any good news from the company, last quater profit..or any reason...?? if not that is manipulation.. retailors go behind the rally,, when price moving ..thinking it will go further ( with out studying the share).. yes these types of rallies past also ...but no action... the CSE trying to take the action after all the harm done.

manula,
I agree. But it has been the case for a long time. What possibly can we expect?
I remember some years ago companies use to declare that they have no idea about the sudden change in price and all but no longer such things are seen.

My point is, price appreciates as long as people are buying. We can do our part by not falling into those traps by not buying at absurd prices, which will reduce such manipulations.

npp wrote:

rijayasooriya wrote:

npp wrote:

rijayasooriya wrote:

npp wrote:i must agree with wikum100 on certain things here.

The directors 'could' have had a hand in the rally. Who can be sure?
Although it does appear to be a fake rally (manipulated one), since the initial issue was not successful.
Yet, the volumes traded were very large. But think, why should the retailers who did not want to buy at 2.50 wanted to buy all the way up to 8?

They wanted a quick buck and some would have gained and some lost. It depends on their luck, timing and intelligence (or foolishness)

These type of rallies have been there in the past and it's about time people learnt these at least the hard way.

The media could do something about it but even they cannot simply allege that it is manipulation without evidence. It may be a shortcoming of the watchdog that it hasn't proved anything.

I did not buy this at 2.50. I wanted to try my 'luck' with this and bought a small qty at 7.30. It went up to 8 but then came down and I sold at the price I bought with a slight loss. I did not complain since it was at my risk.

I do not expect multiple smileys from a moderator. I remember even Quibit mentioning such a thing. Maybe excludes mods. But then again would appreciate a few words if you have anything to say.

Those are called emoticons which would give thousands meaning to an intelligent person and there is no reason to drag moderatorship in to this issue unless there is ____(I can not find a good emoticon)

if you want to talk about it, first know the difference between smileys and emoticons.
and yes i can understand what the smiley means but did not realise you had 9 faces.

no wonder the forum is like this when you as a moderator set an example against etiquette.

still there is no constructive reply to what I posted other than useless stuff.

I also realize that no point in asking for a reply from you as it will serve no purpose. So i'll sign this off.

Let me say bye to a highly intelligent person who suffers with MODERATORMANIA

npp wrote:

manula wrote:@npp, not the media.. when suddenly price went like a rocket with in two/three dsys why SEC cannot investigate.. They know the real valvue of the share, IPO price.. so they can see why these price moving very fast. any good news from the company, last quater profit..or any reason...?? if not that is manipulation.. retailors go behind the rally,, when price moving ..thinking it will go further ( with out studying the share).. yes these types of rallies past also ...but no action... the CSE trying to take the action after all the harm done.

manula,
I agree. But it has been the case for a long time. What possibly can we expect?
I remember some years ago companies use to declare that they have no idea about the sudden change in price and all but no longer such things are seen.

My point is, price appreciates as long as people are buying. We can do our part by not falling into those traps by not buying at absurd prices, which will reduce such manipulations.

manula,
If u read this thread top to bottom u can understand what is 'Vadibana' (වැදි බණ)