ODEL after the right issue wt happen?

ddrperera · 1 ODEL after the right issue wt happen? Thu Jul 26, 2012 9:51 pm

ddrperera

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ODEL comes another illiquid stock?
any guess?

Slstock · 2 Re: ODEL after the right issue wt happen? Fri Jul 27, 2012 12:23 am

Slstock

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Well unless someone pushes this share again , with a right issue , the prices normally comes close to the issue price in this bear environment.

StockGuru · 3 Re: ODEL after the right issue wt happen? Sat Jul 28, 2012 9:24 pm

StockGuru

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I saw the following article about odel have a look

Source: www.lbt.lk

Odel shares exorbitantly rise in two market days amidst a disclosure of Parkson buyout?
Jul 27, 2012 (LBT) - Sri Lanka’s only listed upmarket fashion retailer Odel PLC (ODEL) shares rose over over 28.18% by Rs.5.10 and 12.17% (up Rs.2.80) on two straight market sessions from 25 July 2012 a amidst announcement that surprisingly triggered the market after 14:46 p.m. (after market hours) on July 26 that its owners are yet to sell a stake to a Singapore listed fashion retailer Parkson.

On Wednesday 25 July 2012 a total of 947,102 shares of ODEL changed hands contributing Rs.20,263,219 turnover (7.35% of total turnover) and on 26 July 2012 Thursday a total 2,140,205 of ODEL shares changed hands contributing a total of Rs.52,736,409 (19.78% of total turnover ) whilst on 27 July 2012 Friday the share price dipped by Rs.3.20 (12.4%) to close at Rs.22.60 (post announcement) and a total of 968.389 shares changed hands contributing Rs.22,272,460 to the total market turnover via 574 trades.

Link: http://lankabusinesstoday.com/stock-market/deals/2341-fashionable-insiders

Meanwhile high profile market sources added that a top CEO of stock broking firm (who had recently convinced that Sri Lankan stock market only needs foreign participants at the Presidential Forum on the stock market on 14 July) had bought larger quantities a week prior to Odel’s new investor –Parkson - buyout announcement. On the contrary the said CEO’s broking firm had been delisted from the Colombo Stock Brokers association in last year.