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There were some serious buying on BLUE within the last few days/weeks. Most of them said it's manipulation but nothing else. But there's a different side as for the talk that E-Channeling and Sri Lanka Insurance Corporation were behind these trades that they have been buying large quantities.
As per the last quarter reports the largest share holder was Ceylinco Insurance PLC which had a 5.24% stake. And public holding was almost 99%. So anyone who wishes to have a larger stake would have to buy directly from the market. This is what we've seen recently. So there would be changes to the current director board as well as to the company itself. Blue was treated as a stock with bad reputation and was neglected sometime back and it seems to coming back to the scene with new ownership a better management!
This is only for your information, and not a recommendation... Try to find out more on this and share with us.
As per the last quarter reports the largest share holder was Ceylinco Insurance PLC which had a 5.24% stake. And public holding was almost 99%. So anyone who wishes to have a larger stake would have to buy directly from the market. This is what we've seen recently. So there would be changes to the current director board as well as to the company itself. Blue was treated as a stock with bad reputation and was neglected sometime back and it seems to coming back to the scene with new ownership a better management!
This is only for your information, and not a recommendation... Try to find out more on this and share with us.
(may be not a good question).
