Any info on ODEL?

troy · 1 Any info on ODEL? Thu Jul 26, 2012 9:43 am

troy

Moderator

Posts : 1120
Equity Stars : 7115
Reputation : 31
Join date : 2011-09-10
Age : 39
Location : WTC

Heard of a crossing at 35 levels..... Razz

Whitebull · 2 Re: Any info on ODEL? Thu Jul 26, 2012 9:48 am

Whitebull

Assistant Vice President - Equity Analytics

Posts : 876
Equity Stars : 5385
Reputation : 33
Join date : 2012-05-15

Yeah may be....like another NSB - TFC deal. tongue

Redbulls · 3 Re: Any info on ODEL? Thu Jul 26, 2012 10:10 am

Redbulls

Director - Equity Analytics

Posts : 6053
Equity Stars : 16061
Reputation : 770
Join date : 2012-02-14

@ Troy
Cut the crap story come to the point my friend.

troy · 4 Re: Any info on ODEL? Thu Jul 26, 2012 10:15 am

troy

Moderator

Posts : 1120
Equity Stars : 7115
Reputation : 31
Join date : 2011-09-10
Age : 39
Location : WTC

Redbulls wrote:@ Troy
Cut the crap story come to the point my friend.

ohoo... this is the point my dear, ODEL will at least pass Rs. 25 today!!!

sureshot · 5 Re: Any info on ODEL? Thu Jul 26, 2012 10:16 am

sureshot

Vice President - Equity Analytics

Posts : 1221
Equity Stars : 7669
Reputation : 19
Join date : 2011-04-26

i dont think NSB will do the trick again...... Very Happy

akilaprageeth · 6 Re: Any info on ODEL? Thu Jul 26, 2012 12:32 pm

akilaprageeth

Stock Analytic

Posts : 19
Equity Stars : 4859
Reputation : 0
Join date : 2011-02-24

Any Idea ODEL ?collecting ?

Market.Player · 7 Re: Any info on ODEL? Thu Jul 26, 2012 1:44 pm

Market.Player

Senior Manager - Equity Analytics

Posts : 374
Equity Stars : 5116
Reputation : 22
Join date : 2011-08-14
Age : 58
Location : Thailand

troy wrote:

Redbulls wrote:@ Troy
Cut the crap story come to the point my friend.

ohoo... this is the point my dear, ODEL will at least pass Rs. 25 today!!!

What a GUY......ODEL hit rs.25.00 now.

UAEBOY · 8 Re: Any info on ODEL? Thu Jul 26, 2012 3:32 pm

UAEBOY

Senior Manager - Equity Analytics

Posts : 416
Equity Stars : 5837
Reputation : 28
Join date : 2012-07-07
Age : 37
Location : Abu Dhabi

Just Like HVA few months back.....

yesterday 25% growth
today 15% growth
Any Guesses about tomorrow .....

hey Mr, troy tell us what u know....... bounce

marusira · 9 Re: Any info on ODEL? Thu Jul 26, 2012 3:36 pm

marusira

Senior Manager - Equity Analytics

Posts : 510
Equity Stars : 5531
Reputation : 7
Join date : 2011-03-06
Age : 84
Location : කහටගස්දිගිලිය

troy wrote:

Redbulls wrote:@ Troy
Cut the crap story come to the point my friend.

ohoo... this is the point my dear, ODEL will at least pass Rs. 25 today!!!

well done.....

buster_b · 10 Re: Any info on ODEL? Thu Jul 26, 2012 3:56 pm

buster_b

Equity Analytic

Posts : 20
Equity Stars : 4646
Reputation : 0
Join date : 2011-09-08

Parkson Retail Asia to buy 41.8% of ODEL for Rs. 23.50 per share. Otara to retain 27.8%. 1-1 rights to raise 2.8 bn.

We can see the price crashing down in the same speed that it went up.

Malika1990 · 11 Re: Any info on ODEL? Thu Jul 26, 2012 4:00 pm

Malika1990

Senior Vice President - Equity Analytics

Posts : 1728
Equity Stars : 8971
Reputation : 123
Join date : 2011-10-28

http://forum.srilankaequity.com/t20584-sri-lanka-fashion-retailer-bought-by-parkson-retail
yes sometimes you may correct
Right issue will come soon
The firm will also make a 1 for 1 rights issue that will raise 2.899 billion rupees for expansion.

prabashk · 12 Re: Any info on ODEL? Thu Jul 26, 2012 4:04 pm

prabashk

Senior Equity Analytic

Posts : 60
Equity Stars : 4944
Reputation : 5
Join date : 2011-03-09

Right issue 1 for 1 @ 20.00 is after the mandatory offer @ 23.50.

http://www.cse.lk/cmt/upload_cse_announcements/3661343297782_.pdf

Thanks..

ddindika · 13 Re: Any info on ODEL? Thu Jul 26, 2012 4:17 pm

ddindika

Manager - Equity Analytics

Posts : 160
Equity Stars : 4679
Reputation : 12
Join date : 2012-05-24

Sri Lanka fashion retailer bought by Parkson Retail

July 26, 2012 (LBO) - A 41.8 percent stake in Sri Lanka's ODEL, a fashion retailer has been acquired by Parkson Retail Asia, a department store which has operations in Malaysia, Vietnam and Indonesia for 1.424 billion rupees.
The East Asian firm paid 23.50 rupees a share to buy the 60.6 million shares from founding siblings, Otara Gunewardene (27.8 percent) and her two brother Ajit (13.6 percent) and Ruchi (0.34 percent), the company said in a statement.

The new buyer will make an offer to buy out existing shareholders at the same price. ODEL stock has move up in recent days from around 17 to above 23 rupees on speculation of a take-over.

Otara Gunewardene will retain a 27.8 percent stake and remain its chief executive.

"The acquisition by Parkson Retail of a significant ownership in ODEL marks a new chapter in the evolution of the company," she said in a statement.

"Being part of a 22-year journey from a business I started from the boot of my car to becoming part of an international retail company is a great privilege.

"I am also happy to play a role in an infusion of foreign direct investment to Sri Lanka, while raising capital for the company’s growth.”

"For our customers, employees and shareholders, this development represents exciting new prospects as the ODEL brand will have more opportunities to maximize its potential and together with Parkson to explore new avenues to add value to the company.”

The firm will also make a 1 for 1 rights issue that will raise 2.899 billion rupees for expansion.

http://www.lankabusinessonline.com/fullstory.php?nid=703578810

Whitebull · 14 Re: Any info on ODEL? Thu Jul 26, 2012 4:35 pm

Whitebull

Assistant Vice President - Equity Analytics

Posts : 876
Equity Stars : 5385
Reputation : 33
Join date : 2012-05-15

UAEBOY wrote:Just Like HVA few months back.....

yesterday 25% growth
today 15% growth
Any Guesses about tomorrow .....

hey Mr, troy tell us what u know.......

God bless tomorrow pale

Chinwi · 15 Re: Any info on ODEL? Thu Jul 26, 2012 4:42 pm

Chinwi

Associate Director - Equity Analytics

Posts : 3097
Equity Stars : 8954
Reputation : 418
Join date : 2010-06-08
Location : Asia

buster_b wrote:Parkson Retail Asia bought 41.8% of ODEL for Rs. 23.50 per share. Otara to retain 27.8%. 1-1 rights to raise 2.8 bn.

We can see the price crashing down in the same speed that it went up.

To retain their holding the Gunawardena family has to pay back all the cash they got in this deal to buy rights. If not Parkson will acquire them and become the controlling owner of ODEL.

Some household small producers for ODEL may loose their market and you may see made in Vietnam at ODEL.

Somehow, in this kind of rights issues we normally see downward graphs after the announcement.

Market.Player · 16 Re: Any info on ODEL? Thu Jul 26, 2012 5:04 pm

Market.Player

Senior Manager - Equity Analytics

Posts : 374
Equity Stars : 5116
Reputation : 22
Join date : 2011-08-14
Age : 58
Location : Thailand

02 important factors to consider,
1 - Mandatory off will be at Rs.23.50.
2 - After the right issue Raise 2.8 BN for future Company investments.

bestofluck · 17 Re: Any info on ODEL? Thu Jul 26, 2012 7:12 pm

bestofluck

Equity Analytic

Posts : 39
Equity Stars : 4383
Reputation : 0
Join date : 2012-07-20

Mandatory offer means the shares the foreign company is going to buy from Ms. Otara and the family is it?

anubis · 18 Re: Any info on ODEL? Thu Jul 26, 2012 7:18 pm

anubis

Senior Manager - Equity Analytics

Posts : 474
Equity Stars : 5387
Reputation : 31
Join date : 2011-03-21

Mandatory offer: all the share-holders will be able to sell their stake at 23.50 (right?)

But what happens after Parkson buys a controlling stake of ODEL? wouldn't they have to declare regular dividends? (in order to get the profit out)

And the rights issue will make the business expand.. (also, Parkson seem to have a lot of international exposure)

I feel this share has good prospects... but I don't hold it and I'm not a close follower. So please do your own research.

Cheers!

Dileepa · 19 Re: Any info on ODEL? Thu Jul 26, 2012 7:59 pm

Dileepa

Senior Manager - Equity Analytics

Posts : 346
Equity Stars : 6244
Reputation : 44
Join date : 2011-03-21
Location : Tokyo

I was holing nearly 200k. Sold some to realize the profit today.
When considering the future perspectives, I would like to go for the right issue.
But my average is bellow the right issue price.
Still not decided whether to go for the mandatory offer or buy the right issue.

Whitebull · 20 Re: Any info on ODEL? Thu Jul 26, 2012 8:17 pm

Whitebull

Assistant Vice President - Equity Analytics

Posts : 876
Equity Stars : 5385
Reputation : 33
Join date : 2012-05-15

Dileepa wrote:
I was holing nearly 200k. Sold some to realize the profit today.
When considering the future perspectives, I would like to go for the right issue.
But my average is bellow the right issue price.
Still not decided whether to go for the mandatory offer or buy the right issue.

Did you sell all 115000 shares at 26.50 friend ? Congratulations....!!!!

Dileepa · 21 Re: Any info on ODEL? Fri Jul 27, 2012 3:36 am

Dileepa

Senior Manager - Equity Analytics

Posts : 346
Equity Stars : 6244
Reputation : 44
Join date : 2011-03-21
Location : Tokyo

Things unraveling will be beautiful to watch.
Otara & family is holding : 83%
Dr. Senthilverl is holding : 5.5%
Rest of us : 11.5 %

After the big sale to Parkson it will be,
Parkson : 41%
Family : 41%
Dr. : 5.5%
Rest : 11.5 %

At the right issue some will sell to Parkson (i.e price will come down to Rs.23.5/=)
As the family members are utilizing the rights at full, Dr. actions will be interesting to watch.

In a what if scenario,
If Dr. also utilize his rights, Family + Dr will hold 46.5%
Parkson : (41+x)% , Rest : (11.5-x)%
I think that x will be less than 5%/. Also Dr. may have up his stake when it fell to 17 level.
He bought this @ 30, so he have a good margin to average.
In that case Parkson will not get the control they hope to do so.
Also after the sale to Parkson family & other related parties may
buy more of this (i.e price might go higher than mandatory offer price)

Things to consider,
・If Parkson could not get the real control, will they push up the offer price?
・Parkson may have already bought some bellow Rs.23.5/=
・Parkson may have come to a deal with Dr. to gain the full control
・As they need to take the profit abroad, they might go for a massive dividend payout (higher than Rs.1.0/=)
・Do they need the real control at the first place?
・What will be the net asset value/share in Sep. report. Will it jump over 16 i.e (12.1+20)/2

aj · 22 Re: Any info on ODEL? Fri Jul 27, 2012 8:21 am

aj

Assistant Vice President - Equity Analytics

Posts : 766
Equity Stars : 5433
Reputation : 45
Join date : 2011-11-25

Why the hell did the owner sell like that? If I were the owner if I really want to sell some, I would keep 51%. Why would they sell like that to get into a uncomfortable situation. Is ODEL in a bad financial state?

econ · 23 Re: Any info on ODEL? Fri Jul 27, 2012 8:38 am

econ

Global Moderator

Posts : 1479
Equity Stars : 8419
Reputation : 94
Join date : 2011-01-27

I think otara wants ODEL brand to become international famous brand.

aj · 24 Re: Any info on ODEL? Fri Jul 27, 2012 9:03 am

aj

Assistant Vice President - Equity Analytics

Posts : 766
Equity Stars : 5433
Reputation : 45
Join date : 2011-11-25

econ wrote:I think otara wants ODEL brand to become international famous brand.

I doubt that. If the Parkson or whatever takes control of it, they'll dump the ODEL name and use their own brand. Then ODEL will be no more. So much for proud Sri Lankan brand then. Smile

Antonym · 25 Re: Any info on ODEL? Fri Jul 27, 2012 9:47 am

Antonym

Vice President - Equity Analytics

Posts : 1090
Equity Stars : 7443
Reputation : 275
Join date : 2011-02-09

aj wrote:

econ wrote:I think otara wants ODEL brand to become international famous brand.

I doubt that. If the Parkson or whatever takes control of it, they'll dump the ODEL name and use their own brand. Then ODEL will be no more. So much for proud Sri Lankan brand then.

ODEL's attraction is that, as a brand and a destination store, it is distinctly Sri Lankan.
It is unlikely that Parkson will dump the name.

Sponsored content

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Latest topics

Any info on ODEL?

1 Any info on ODEL? Thu Jul 26, 2012 9:43 am

troy

2 Re: Any info on ODEL? Thu Jul 26, 2012 9:48 am

Whitebull

3 Re: Any info on ODEL? Thu Jul 26, 2012 10:10 am

Redbulls

4 Re: Any info on ODEL? Thu Jul 26, 2012 10:15 am

troy

5 Re: Any info on ODEL? Thu Jul 26, 2012 10:16 am

sureshot

6 Re: Any info on ODEL? Thu Jul 26, 2012 12:32 pm

akilaprageeth

7 Re: Any info on ODEL? Thu Jul 26, 2012 1:44 pm

Market.Player

8 Re: Any info on ODEL? Thu Jul 26, 2012 3:32 pm

UAEBOY

9 Re: Any info on ODEL? Thu Jul 26, 2012 3:36 pm

marusira

10 Re: Any info on ODEL? Thu Jul 26, 2012 3:56 pm

buster_b

11 Re: Any info on ODEL? Thu Jul 26, 2012 4:00 pm

Malika1990

12 Re: Any info on ODEL? Thu Jul 26, 2012 4:04 pm

prabashk

13 Re: Any info on ODEL? Thu Jul 26, 2012 4:17 pm

ddindika

14 Re: Any info on ODEL? Thu Jul 26, 2012 4:35 pm

Whitebull

15 Re: Any info on ODEL? Thu Jul 26, 2012 4:42 pm

Chinwi

16 Re: Any info on ODEL? Thu Jul 26, 2012 5:04 pm

Market.Player

17 Re: Any info on ODEL? Thu Jul 26, 2012 7:12 pm

bestofluck

18 Re: Any info on ODEL? Thu Jul 26, 2012 7:18 pm

anubis

19 Re: Any info on ODEL? Thu Jul 26, 2012 7:59 pm

Dileepa

20 Re: Any info on ODEL? Thu Jul 26, 2012 8:17 pm

Whitebull

21 Re: Any info on ODEL? Fri Jul 27, 2012 3:36 am

Dileepa

22 Re: Any info on ODEL? Fri Jul 27, 2012 8:21 am

aj

23 Re: Any info on ODEL? Fri Jul 27, 2012 8:38 am

econ

24 Re: Any info on ODEL? Fri Jul 27, 2012 9:03 am

aj

25 Re: Any info on ODEL? Fri Jul 27, 2012 9:47 am

Antonym

26 Re: Any info on ODEL?

Sponsored content

New topics