JKH, CFIN re NTB shares

glad · 1 JKH, CFIN re NTB shares Tue Apr 24, 2012 10:45 am

glad

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As per CSE information JKH & CFIN have requested extension of time (expired on 23.04.2012) to bring down their shareholding of NTB to 15%.

http://www.cse.lk/cmt/upload_cse_announcements/5181335240457_.pdf

Redbulls · 2 Re: JKH, CFIN re NTB shares Tue Apr 24, 2012 11:23 am

Redbulls

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This indicate at the prevailing price -
They do not want to sell?
or
No one want to buy?

Dileepa · 3 Re: JKH, CFIN re NTB shares Tue Apr 24, 2012 8:27 pm

Dileepa

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Redbulls wrote:This indicate at the prevailing price -
They do not want to sell?
or
No one want to buy?

They do not want to sell I think.
If such a quantity of shares comes to the market
there will be a price drop and they do not want that. (They still hold 30%)
However NTB growth potentials are great.
They recently opened their 49th branch @ polonnaruwa (Kaduruwela).
Over 10 years, they catered to a specific set of customers around Colombo.
This is a radical change for the bank and it opens a completely new market for them.
For small inverters, this will be a good chance to pickup this share at a bargain price.
Attached file is a ten year summary of the bank.
I think current asset value per share is somewhere around Rs.40/=

CSE.SAS

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The Central Bank is in the process of evaluating requests made by shareholders of Nations Trust Bank PLC (NTB) to extend the April 23, 2012 deadline to sell down their holdings to within prescribed limits, a senior official said.

John Keells Holdings PLC (JKH) and Central Finance Group (CFG) currently hold 29.9 percent and 20 percent stakes in NTB respectively and had been given an April 23 deadline by the Monetary Board of the Central Bank in which to reduce the stake to 15 percent each.

Yesterday, both JKH and CFG told the Colombo Stock Exchange that they had written to the Central Bank asking for the deadline to be extended.

A top official of JKH told The Island Financial Review that the letter to the Central Bank was issued ‘very recently’.

Central Bank Deputy Governor B. D. W. A. Silva said the Central Bank had received the requests and that the bank was in the process of evaluating them.

NTB shares closed at Rs. 54 yesterday.

The bank’s net profits rose 41 percent to Rs. 1,534 million in 2011.

Its deposit base increased 38 percent to 66.43 billion as at December 31, 2011. Loans and advances grew 39 percent to Rs. 62.02 billion and total assets grew 23 percent to Rs. 102 billion.

http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=50361