Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell?

DealKing

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Somebody sold 21.7 million shares of Union Bank today at Rs.20.50 in a crossing.It was rumoured that none of the top people at Union Bank are not going to sell their shares though TPG is buying over 75% of Union Bank.

As per the last financials of Union Bank as at 30th June 2014 the top shareholders are as follows

Vista Knowledge (Pvt) Ltd. 64,677,973 18.5%
Sampath Bank PLC 26,347,027 7.5%
Associated Electrical Corporation Ltd. 26,101,489 7.5%
Select Gain Ltd. 23,369,409 6.7%
Mr. Alexis Indrajit Lovell 22,743,780 6.5%
Mr. C.P.A Wijeyesekera 18,508,468 5.3%
EXSAB International Holding Co. for Trading Development 15,000,000 4.3%

ShiraBoy

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http://forum.srilankaequity.com/t36554-217#219399

shadow walker

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SAMPATH BANK sold

MR docca bought

fireshelter

fireshelter

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Doctor Bought Sampath Bank Sold

Jayashantha

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Seemingly, it's a shrewd dealing on the part of Dr. Sentiverl assuming TPG deal is gonna happen as announced earlier. Sampath Bank's loss, Doctor's gain Razz

DealKing

DealKing

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Jayashantha wrote:Seemingly, it's a shrewd dealing on the part of Dr. Sentiverl assuming TPG deal is gonna happen as announced earlier. Sampath Bank's loss, Doctor's gain

Senthilverl smarter...think like this...

Present Union Bank Share Capital - 349,250,000 ordinary voting shares

Public Holding - 63.79% or 222786575 ordinary voting shares

TPG will buy 7% of Current Share Capital at Rs.25 per share by the Mandatory Offer from Public Shareholders which is about 24,447,500 shares and that is about 10.973% of Public Shareholding of the bank.

Since Dr.T. Senthilverl bought 21,700,000 shares and it is nearly 6.21% of Union Bank current share capital, Dr.T.Senthilverl can make a handsome profit by disposing 2,381,141 shares at Rs.25 per share to TPG which is a Capital Gain of over Rs.10 million at a profit of over Rs.4 per share.

Since Senthilverl is a big trader he usually gets 50% rebate on his broker commission charged from some stock brokers which is Senthilverl pays only 50% of original brokerage cost.And Seylan Bank offers Margin Trading interest rate as lower as Average Prime Lending Rate + 2% which is about 9.69% per annum for Stock Traders who take margin above Rs.500 million...So Dr. Senthilverl is a big winner since he only has to pay average over Rs.4.03 million per month as Margin Interest.

That means still he makes nearly Rs.6 million profit gain seling 2.3 million shares to TPG and even if he keeps for next few years or 15 years by that time he is a big winner.

dmjesua

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Jayashantha wrote:Sampath Bank's loss, Doctor's gain

Average investment cost for Sampath is 10.49Rs per UBC share... almost 100% Gain...

PrabathR

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is this share worth.

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Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell?

1 Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell? Wed Sep 10, 2014 5:38 pm

DealKing

2 Re: Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell? Wed Sep 10, 2014 6:55 pm

ShiraBoy

3 Re: Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell? Wed Sep 10, 2014 7:40 pm

shadow walker

4 Re: Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell? Wed Sep 10, 2014 8:30 pm

fireshelter

5 Re: Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell? Wed Sep 10, 2014 8:39 pm

Jayashantha

6 Re: Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell? Thu Sep 11, 2014 1:10 am

DealKing

7 Re: Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell? Thu Sep 11, 2014 1:36 am

dmjesua

8 Re: Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell? Thu Sep 11, 2014 1:36 am

PrabathR

9 Re: Who sold Union Bank today? Was it Sri Lanka's invader Pandyan AryaChakravarti's family member UBC Chairman Alex Lovell?

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