Adam Investments buys 21% of PCH Holdings for Rs. 42 m

Redbulls

Redbulls

Director - Equity Analytics

Posts : 6053
Equity Stars : 16261
Reputation : 770
Join date : 2012-02-14

* Major shareholders among sellers

Adam Investments Ltd. on Friday bought a 20.8% stake in PCH Holdings Plc for Rs. 42 million.

The stake, amounting to 52.323 million shares, was acquired at 80 cents per share. Following the acquisition, PCHH closed at Rs. 1.10, up by 40 cents or 57%.

On Friday 58.84 million shares of the company changed hands via 159 trades.

Among major sellers were Dynaris Holdings, shedding 26 million shares, whilst Chairman S.H.M. Rishan also sold over one million shares. As at June Dynaris held a 55% stake in PCHH whilst Rishan held a 17% stake.

Analysts viewed the investment by Adam Investments in PCHH as strategic.
In quarter ended June 2013, net loss at PCHH rose by 67% to Rs. 86 million whilst revenue was flat at Rs. 922 million.

In June, Adam Investments – controlled by Dr. Ali Asger Shabbir Gulamhusein and Danushya Mediwake Wethasinghe Gulamhusein – purchased an 8.9% stake of Ceylon & Foreign Trades Plc via a crossing for Rs. 100 million.

Adam Investments Group has Adam Apparels Ltd., Adam Metals Ltd., Network Communications Ltd., Adam Automobiles Ltd. and Adam Air Conditioners Ltd.

It was announced that British American Technologies Ltd. purchased 24.4 m ordinary voting shares (an approximately 24% stake) of PC Pharma (PCP) on 2 August 2013.
http://www.ft.lk/2013/09/02/adam-investments-buys-21-of-pch-holdings-for-rs-42-m/

yes0

yes0

Senior Equity Analytic

Posts : 60
Equity Stars : 4366
Reputation : 0
Join date : 2013-04-22

pc house?

sandunj

sandunj

Senior Manager - Equity Analytics

Posts : 435
Equity Stars : 4766
Reputation : 20
Join date : 2013-03-16

May be EPF or ETF will buy from them @ higher price. cyclops

prasadrmb

prasadrmb

Manager - Equity Analytics

Posts : 252
Equity Stars : 5408
Reputation : 41
Join date : 2011-04-19
Location : Anuradapura

Has EPF/ETF sold their portion

sriranga

sriranga

Co-Admin

Posts : 6822
Equity Stars : 23226
Reputation : 2855
Join date : 2011-02-01
Location : London

By Duruthu Edirimuni Chandrasekera
View(s): 1

Adam Investments Ltd owner, Dr. Ali Asger Shabbir Gulamhusein who bought 20.8 per cent in PCH Holdings Plc (PCHH) recently, says that it is a sound business in line with his existing businesses.

“I feel that PCHH holds a lot of value in line with my present business which are in garment manufacturing and FMCG,” Dr. Gulamhusein told the Business Times.

He said that he was satisfied with the due diligence that was done on PCHH. “PC House (a PCHH subsidiary) is what has been written about (negatively),” he said.

Last Friday Dr. Gulamhusein paid Rs. 42 million for PCHH’s a 20.8 per cent stake or 52.323 million shares.

Adam Investments controlled by Dr. Gulamhusein and Danushya Mediwake Wethasinghe has Adam Apparels Ltd., Adam Metals Ltd, Network Communications Ltd., Adam Automobiles Ltd. and Adam Air Conditioners Ltd.

PCHH Chairman S.H.M. Rishan whose share transactions in the recent past have been mired in controversy is planning to rope in investors in a bid to restructure and save it from the quandary, sources close to Mr. Rishan said.

“He is trying to get both local and foreign parties,” a source told the Business Times. He said that already Mr. Rishan has had discussions with some parties and that Adam Investments’ entry is as a result of this.

PC House share price which increased as high as Rs 30 in February 2011, a year after it went public, was offered at Rs 11 at the initial public offering. Last quarter it had a Rights Issue to which Employees’ Provident Fund (EPF) which has a 3.3 per cent stake in the company had subscribed to, analysts said. Now EPF 3.3 per cent stake amounts to 11.3 million shares. “Before the Rights Issue it had 7.5 million shares,” an analyst said.
http://www.sundaytimes.lk/130908/business-times/adam-investments-says-pch-holdings-entry-in-line-with-core-businesses-60576.html

enslive

enslive

Senior Equity Analytic

Posts : 94
Equity Stars : 5043
Reputation : 5
Join date : 2011-05-27

Now they (Adam Investment ) hold only 10.12% means , do they dispose the balance 10.68%???

If it is so , then how it will be a strategic investment ?? Suspect

sriranga wrote:By Duruthu Edirimuni Chandrasekera
View(s): 1

Adam Investments Ltd owner, Dr. Ali Asger Shabbir Gulamhusein who bought 20.8 per cent in PCH Holdings Plc (PCHH) recently, says that it is a sound business in line with his existing businesses.

“I feel that PCHH holds a lot of value in line with my present business which are in garment manufacturing and FMCG,” Dr. Gulamhusein told the Business Times.

He said that he was satisfied with the due diligence that was done on PCHH. “PC House (a PCHH subsidiary) is what has been written about (negatively),” he said.

Last Friday Dr. Gulamhusein paid Rs. 42 million for PCHH’s a 20.8 per cent stake or 52.323 million shares.

Adam Investments controlled by Dr. Gulamhusein and Danushya Mediwake Wethasinghe has Adam Apparels Ltd., Adam Metals Ltd, Network Communications Ltd., Adam Automobiles Ltd. and Adam Air Conditioners Ltd.

PCHH Chairman S.H.M. Rishan whose share transactions in the recent past have been mired in controversy is planning to rope in investors in a bid to restructure and save it from the quandary, sources close to Mr. Rishan said.

“He is trying to get both local and foreign parties,” a source told the Business Times. He said that already Mr. Rishan has had discussions with some parties and that Adam Investments’ entry is as a result of this.

PC House share price which increased as high as Rs 30 in February 2011, a year after it went public, was offered at Rs 11 at the initial public offering. Last quarter it had a Rights Issue to which Employees’ Provident Fund (EPF) which has a 3.3 per cent stake in the company had subscribed to, analysts said. Now EPF 3.3 per cent stake amounts to 11.3 million shares. “Before the Rights Issue it had 7.5 million shares,” an analyst said.
http://www.sundaytimes.lk/130908/business-times/adam-investments-says-pch-holdings-entry-in-line-with-core-businesses-60576.html

stevenapple

stevenapple

Assistant Vice President - Equity Analytics

Posts : 632
Equity Stars : 5518
Reputation : 15
Join date : 2014-04-10

They must have a different meaning for the Strategic investment. Razz

Jayashantha

Jayashantha

Senior Manager - Equity Analytics

Posts : 319
Equity Stars : 5769
Reputation : 3
Join date : 2014-01-25
Age : 40
Location : Kuliyapitiya

Adam Investments PLC seems to be bottom-fishing. But I wonder if PC House Holdings has substantial assets for a turnaround. It was reported that Orient Garments PLC had posted healthy profits for this quarter after Dr. Gulamhusein had taken the reins.

Sponsored content

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

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

Latest topics

Adam Investments buys 21% of PCH Holdings for Rs. 42 m

1 Adam Investments buys 21% of PCH Holdings for Rs. 42 m Mon Sep 02, 2013 12:58 am

Redbulls

2 Re: Adam Investments buys 21% of PCH Holdings for Rs. 42 m Mon Sep 02, 2013 9:02 am

yes0

3 Re: Adam Investments buys 21% of PCH Holdings for Rs. 42 m Mon Sep 02, 2013 9:20 am

sandunj

4 Re: Adam Investments buys 21% of PCH Holdings for Rs. 42 m Mon Sep 02, 2013 9:48 am

prasadrmb

5 Adam Investments says PCH Holdings entry in line with core businesses Sun Sep 08, 2013 1:37 am

sriranga

6 Re: Adam Investments buys 21% of PCH Holdings for Rs. 42 m Sat May 17, 2014 3:41 pm

enslive

7 Re: Adam Investments buys 21% of PCH Holdings for Rs. 42 m Sat May 17, 2014 5:34 pm

stevenapple

8 Re: Adam Investments buys 21% of PCH Holdings for Rs. 42 m Sat May 17, 2014 10:09 pm

Jayashantha

9 Re: Adam Investments buys 21% of PCH Holdings for Rs. 42 m

Sponsored content

New topics