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While reading through the annual report of Central Industries (CIND), I came across something rather curious and thought I'd ask the experts here.
The second largest shareholder in CIND (the largest is CFIN) is Sierra Cables (SIRA); between them, SIRA (15.95%) and their subsidiary Sierra Holdings (1.8%) hold nearly 18% of CIND.
What I find curious is that a small loss making cable maker like SIRA got hold of such a quantity of what some would consider an established blue chip (old timers will remember CIND was one of the top stocks in the 1990s bull markets).
Perhaps someone better in accounts than me can tell me, can SIRA consider CIND an associate and show part of CIND's profits in SIRA's accounts?
The second largest shareholder in CIND (the largest is CFIN) is Sierra Cables (SIRA); between them, SIRA (15.95%) and their subsidiary Sierra Holdings (1.8%) hold nearly 18% of CIND.
What I find curious is that a small loss making cable maker like SIRA got hold of such a quantity of what some would consider an established blue chip (old timers will remember CIND was one of the top stocks in the 1990s bull markets).
Perhaps someone better in accounts than me can tell me, can SIRA consider CIND an associate and show part of CIND's profits in SIRA's accounts?
