Sinhaputhra Finance - SFL

KPP · 1 Sinhaputhra Finance - SFL Thu Sep 18, 2014 10:19 am

KPP

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I think the Managing Director of this company just now sold his entire holding of preference shares. There was a trade of 50,000 plus shares and only he has that many shares as per the latest financials.

Bimputh also acquired a 25% stake of the voting shares at an extremely high price of Rs. 275 per share.It seems something big is going to happen in near future.. But I'm clueless whether its going to be positive or negative. Wondering whether to enter SFL.P at these prices...

Top Trader · 2 Re: Sinhaputhra Finance - SFL Thu Sep 18, 2014 5:50 pm

Top Trader

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http://www.cse.lk/cmt/upload_cse_announcements/5011411038120_.pdf

Appreciate if the experts who know the knowledge about this conversation, brief on it, thanks

ccsentha · 3 Re: Sinhaputhra Finance - SFL Thu Sep 18, 2014 7:53 pm

ccsentha

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Top Trader wrote:http://www.cse.lk/cmt/upload_cse_announcements/5011411038120_.pdf

Appreciate if the experts who know the knowledge about this conversation, brief on it, thanks

Why has the director sold his entire stake? to whom was it sold to? was it to public?

KPP · 4 Re: Sinhaputhra Finance - SFL Thu Sep 18, 2014 8:20 pm

KPP

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It was sold to several buyers in splits like 10k, 8k 5k and 2k. So it was to retailers but not the small time retailers. Plus it could have been an arranged sale because normally you won't get buy orders for 50,000 shares in the order book as this is an illiquid stock.

I have no idea why he is selling like this. Last week he sold 20,000 voting shares in the market. Now He has a majority of just 16,000 voting shares.

ccsentha · 5 Re: Sinhaputhra Finance - SFL Thu Sep 18, 2014 10:38 pm

ccsentha

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Owner selling below 250, while BLI purchases 25% stake from some one else for 275. Then owner sells the entire preference shares to the market. All seems to be confusing....
This action cannot happen if there was some one who was going to take over the company, because they would have bought it from the owner.

So probably Sinhaputhra has to buy other finance companies to achieve the CBSL target, or they will have to merge with some other finance companies.
but if it's to merge then why would the owner sell his shares to the market?

Hav · 6 Re: Sinhaputhra Finance - SFL Fri Sep 19, 2014 9:16 am

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But It Seems the owner of the sinhaputhra still doesn't want to merge?

If they will not be able to merge wht will central bank do as the consolidation plan....

Still Bimputh Finance also havent go with any compny as news.

ccsentha · 7 Re: Sinhaputhra Finance - SFL Fri Sep 19, 2014 9:26 am

ccsentha

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Hav wrote:But It Seems the owner of the sinhaputhra still doesn't want to merge?

If they will not be able to merge wht will central bank do as the consolidation plan....

Still Bimputh Finance also havent go with any compny as news.

What would be the reason for the director to sell the shares to the market?(to retailers)