Could some one clear up what is happening with Asiri group?

ccsentha

ccsentha

Vice President - Equity Analytics

Posts : 1021
Equity Stars : 6277
Reputation : 20
Join date : 2011-04-22

Could some one clear up what is happening with Asiri group?

there has been lot of internal transfers and actis has bought a stake. Can some one explain this in details
??

Chinwi

Chinwi

Associate Director - Equity Analytics

Posts : 3097
Equity Stars : 8963
Reputation : 418
Join date : 2010-06-08
Location : Asia

Actis to buy new shares issued by ASIR.

Asiri group is restructuring to give clear picture about their holdings. They had ASHA(Asiri Central) and Central H shares under their sub Surgical Hospital. Now they come directly under Asha H Holdings(ASIR).

Asiri Hotel Holding will find about 1.5 billion cash in their coffers after completing all those transactions here and there and they will become the main holding company.

Asiri Surgical (AMSL)will also retain 745 million with them after paying back 1.48billion to ASIR to cancel preference shares. .

They say ASIR will buy more ASHA and AMSL shares in the future.

I think they will use part of money to pay back loans and build another hospital probably in kandy.

Softlogic and Actis will become the major owners of Asiri group.

ccsentha

ccsentha

Vice President - Equity Analytics

Posts : 1021
Equity Stars : 6277
Reputation : 20
Join date : 2011-04-22

so ASIR will have other hospitals under their wings.

softlogic will be the main share holder, ACTIS might end up with 10-20% in ASIR....i guess......

econ

econ

Global Moderator

Posts : 1479
Equity Stars : 8428
Reputation : 94
Join date : 2011-01-27

Another Pathirage gimmick to find money to pay the huge debt.

ccsentha

ccsentha

Vice President - Equity Analytics

Posts : 1021
Equity Stars : 6277
Reputation : 20
Join date : 2011-04-22

econ wrote:Another Pathirage gimmick to find money to pay the huge debt.

Can't see anything fishy about this, This is good move as it's getting in external funds to consolidate the business rather than going for right issues to raise money

aj

aj

Assistant Vice President - Equity Analytics

Posts : 766
Equity Stars : 5442
Reputation : 45
Join date : 2011-11-25

ccsentha wrote:

econ wrote:Another Pathirage gimmick to find money to pay the huge debt.

Can't see anything fishy about this, This is good move as it's getting in external funds to consolidate the business rather than going for right issues to raise money

Other than the internal transfers what I see was they had issued shares privately to a party. That means the profits get diluted of the existing shareholders?
If there was a rights issue that means everybody can keep their ownership intact. But now the existing shareholders gets pushed by the new party. I think the reason for the rights, is to keep existing shareholders owning the same portion of the company after the new share issue. This would break that, isn't it?

Sponsored content

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

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

Latest topics

Could some one clear up what is happening with Asiri group?

1 Could some one clear up what is happening with Asiri group? Tue Aug 28, 2012 10:34 pm

ccsentha

2 Re: Could some one clear up what is happening with Asiri group? Wed Aug 29, 2012 12:39 am

Chinwi

3 Re: Could some one clear up what is happening with Asiri group? Wed Aug 29, 2012 1:03 am

ccsentha

4 Re: Could some one clear up what is happening with Asiri group? Wed Aug 29, 2012 3:37 pm

econ

5 Re: Could some one clear up what is happening with Asiri group? Wed Aug 29, 2012 9:32 pm

ccsentha

6 Re: Could some one clear up what is happening with Asiri group? Thu Aug 30, 2012 8:26 am

aj

7 Re: Could some one clear up what is happening with Asiri group?

Sponsored content

New topics