Softlogic March IPO - Now Before June 10th

Any news – What happened ?

1. forum.srilankaequity.com/t209-softlogic-ipo-in-march
2. PP completed last year : 14 million shares at Rs. 72 a share.

http://www.thesundayleader.lk/2010/03/14/a-billion-for-softlogic/

milanka wrote:Any news – What happened ?

1. forum.srilankaequity.com/t209-softlogic-ipo-in-march
2. PP completed last year : 14 million shares at Rs. 72 a share.

http://www.thesundayleader.lk/2010/03/14/a-billion-for-softlogic/

One internal source revealed that it will be there towards 2nd half of May. Means it will be on offer before EXPO shares come into the market.

I'm also looking for it since last year.
The Softlogic Group people unable to give any exact detail about this.
I tried many times.
W"l see..

widanage wrote:

milanka wrote:Any news – What happened ?

1. forum.srilankaequity.com/t209-softlogic-ipo-in-march
2. PP completed last year : 14 million shares at Rs. 72 a share.

http://www.thesundayleader.lk/2010/03/14/a-billion-for-softlogic/

One internal source revealed that it will be there towards 2nd half of May. Means it will be on offer before EXPO shares come into the market.

This would help most investors to plan thair financials and be ready by Mid may.

Same way i am waiting for Sri Lanka Airlines catering IPO.. any idea about that when it enter the market ???

manula wrote:Same way i am waiting for Sri Lanka Airlines catering IPO.. any idea about that when it enter the market ???

Just by looking at the name we cannot say its a good IPO or not. Best is to look at the Prospectus and check the accounts and the number of shares they are issuing. Do not judge only by the name of the comapny.

Thanks.. MILANKA ..yes you are correct .we cannot go by name and we have to see the prospectus about the growth and same way company account side also.

Sri Lanka’s Softlogic Holdings, a group with business interests in hospitals, electronic and apparel retail, and leisure is planning to raise four billion rupees in what would be the second largest share issue so far this year.

“We will come into the market before the 10th of June,” said Pathirage, chairman and founder of the Softlogic group. He said the firm is awaiting CSE approval.

ExpoLanka Holdings, a family run freight and logistics firm last week announced the largest IPO so far this year of 2.4 billion rupees. Sri Lanka's state-run national carrier SriLankan Airlines has also announced plans to divest a part of its fully owned catering unit SriLankan Catering, through a public listing estimated at five billion rupees but the issue date has not been finalized yet.

Softlogic Holdings is offering 18 percent of the firm’s stake to raise money of which 75 percent or three billion rupees will be utilized to retire debt while the balance will be spent on the group’s expansion plans.

Softlogic group which expanded over the last two decades now includes a dozen subsidiaries. It started with the distributorship for Nokia phones in Sri Lanka. Softlogic Trading is the authorized dealer for DELL computers here. It also gained the Panasonic distributorship when it acquired Uni Walkers, a struggling firm at that time.

In 2006 Softlogic diversified into healthcare by acquiring Asiri Hospitals. Pathirage now controls the Asiri Hospitals group, the largest private sector hospital chain in the island with three hospitals in Colombo and one in the Southern town of Matara.

The group forayed into readymade clothes retail when it bagged the dealership for the US jeans wear brand Levi's here in October last year and sportswear brand Nike in Sri Lanka.

“We are very bullish about the retail business,” said Pathirage of his latest expansion plans in retail business which has also bagged dealership for Spanish women’s clothing label Mango and Giordano last month.

He said two ‘Mango’ and Giordano branded clothing stores are scheduled to be opened by July this year and a Nike store by end May.

The group recently acquired hotel Ceysands, a part of the failed Ceylinco group for 925 million rupees.

Pathirage said the 84 room located in Bentota along the southern coastal belt, 65 kilometers from Colombo, on a split of land between the Bentota river and the Indian Ocean is to be revamped into a four star 150 room hotel at a cost of one billion rupees.

He said the hotel will be closed for one and a half years for renovation and once operational will set room rates at USD 155 per room night.

“We want to be a reasonable player in the leisure sector,” said Pathirage.

The Softlogic group has also penned a deal with Swiss based international hotel chain Movenpick Hotels and Resorts to manage the city hotel the group plans to build on a prime land adjacent to a popular shopping mall in the heart of Colombo.

http://www.lbr.lk/fullstory.php?nid=20110428132700959

Hay !! : anyone know where this Swiss Managed hotel is coming up :

" The Softlogic group has also penned a deal with Swiss based international hotel chain Movenpick Hotels and Resorts to manage the city hotel the group plans to build on a prime land adjacent to a popular shopping mall in the heart of Colombo. "


According to my assumption , its next to Liberty Plaza - Kollupitiya Junction.
If you pass that area , just notice : Soil testing work going on these days...

Just my assumption... Should be 95% corrcet as that land belongs to Softlogic..

widanage wrote:

milanka wrote:Any news – What happened ?

1. forum.srilankaequity.com/t209-softlogic-ipo-in-march
2. PP completed last year : 14 million shares at Rs. 72 a share.

http://www.thesundayleader.lk/2010/03/14/a-billion-for-softlogic/

One internal source revealed that it will be there towards 2nd half of May. Means it will be on offer before EXPO shares come into the market.

Price would be LKR 28/- per share.

widanage wrote:

widanage wrote:

milanka wrote:Any news – What happened ?

1. forum.srilankaequity.com/t209-softlogic-ipo-in-march
2. PP completed last year : 14 million shares at Rs. 72 a share.

http://www.thesundayleader.lk/2010/03/14/a-billion-for-softlogic/

One internal source revealed that it will be there towards 2nd half of May. Means it will be on offer before EXPO shares come into the market.

Price would be LKR 28/- per share.

are you sure macho ,
how you know

widanage wrote:

milanka wrote:Any news – What happened ?

1. forum.srilankaequity.com/t209-softlogic-ipo-in-march
2. PP completed last year : 14 million shares at Rs. 72 a share.

http://www.thesundayleader.lk/2010/03/14/a-billion-for-softlogic/

One internal source revealed that it will be there towards 2nd half of May. Means it will be on offer before EXPO shares come into the market.

In June according to the below
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=24287

Softlogic Holdings is offering 18 percent of the firm’s stake to raise money of
which 75 percent or three billion rupees will be utilized to retire debt while
the balance will be spent on the group’s expansion plans.

Business Areas :

- distributorship for Nokia phones
- authorized dealer for DELL
- Asiri Hospitals group
- dealership for the US jeans wear brand Levi's
- dealership forsportswear brand Nike
- dealership for Spanish women’s clothing label Mango and Giordano
- acquired hotel Ceysands
- plans to build City Hotel on a prime land


Mr. Pathirage Says - I am a risk taker.

http://lbr.lk/fullstory.php?nid=20110428132700959

On 9th of June at Rs 29

http://www.cse.lk/cmt/upload_cse_announcements/7671306218233_.pdf