Monday market saw several parcels of PCH changing hands in the blocks of 50,000 and 200,000 and 250,000 whilst two large parcels of 6,367,459 and 7 million shares changed hands at a price range of Rs.6 to Rs.6.20 per share from 10:01:24 a.m. Buyer is believed to be PCH Chairman Saheedul Hijiry Mohamed Rishan according to analysts.
Early September 2011, ERI’s controlling shareholder Lionhart shed 1.5% stake or 4.5 million shares in ERI at Rs. 68 each as well as 5 million warrants at Rs. 32.60 each to PC House for Rs. 469 million. In turn PCH House major shareholder Rishan sold 9.6% stake or 22 million shares in the company to Lionhart at Rs. 22 each in a deal worth Rs. 486 million.
Meanwhile in early February market witnessed PCH Chairman Rishan selling his stake of GREG and its warrants at a loss amounting to Rs.340 million according to market analysts.
Many analysts argue although prestige financial newspaper media reports outlined that time the PCH and Lionhart were in a Win-Win Deal in September 2011 now it has become a Loss-Loss Deal on 2012.