LOFC (Lanka ORIX Finance Co.) first day price?

ISURU · 1 LOFC (Lanka ORIX Finance Co.) first day price? Sun Jul 03, 2011 5:53 pm

ISURU

Senior Manager - Equity Analytics

Posts : 580
Equity Stars : 6008
Reputation : 111
Join date : 2011-02-06

Are there any predictions regarding first day price of Lanka ORIX Finance Co.?

ISURU

ISURU

Senior Manager - Equity Analytics

Posts : 580
Equity Stars : 6008
Reputation : 111
Join date : 2011-02-06

http://www.cse.lk/270808/pdf/1_7_2011_Orix_Intoductory.pdf

dewminigamlath · 3 Re: LOFC (Lanka ORIX Finance Co.) first day price? Wed Jul 06, 2011 2:33 pm

dewminigamlath

Manager - Equity Analytics

Posts : 126
Equity Stars : 5106
Reputation : 18
Join date : 2011-06-12
Age : 37
Location : Yakkala

Although recent RFCs like BLI, AMF and AFSL recorded amazing price increases on first day of their trading, I'm in doubt as to whether LOFC share price would boost rapidly. Consider the following:

According to CSE web site, reference price of LOFC shares is Rs.5 and they are listing 2,800,000,000 shares. That would be a market capitalization of Rs.14,000,000,000 (14 bn) to start with. And if the price just doubles into Rs.10, market cap would be 28 billion rupees, and LOFC will be placed at 19th place w.r.t. market cap (above CFIN). Remember, BLI and AMF prices doubled whereas AFSL rose to almost 8 times the reference price on first day.

(FYI: LOFC can beat JKH to become number 1, if the price reaches somewhere around Rs.65.)

What do you think? Can LOFC price boost rapidly on first day?

BLI
Date of Opening - 13th June
No. of shares - 20,200,002
Reference Price - Rs.10.56
First Day Closing Price - Rs.25.00
First Day Market Cap - Rs.505,000,050.00
Highest Price - Rs.120.00
Highest Market Cap - Rs.2,424,000,240.00
Current Price (as at 06th July closing) - Rs.62.80
Current Market Cap - Rs.1,268,560,125.6.00

AMF
Date of Opening - 23th June
No. of shares - 5,608,355
Reference Price - Rs.135.00
First Day Closing Price - Rs.300.00
First Day Market Cap - Rs.1,682,506,500.00
Highest Price - Rs.450.00
Highest Market Cap - Rs.2,523,759,750.00
Current Price (as at 06th July closing) - Rs.450.00
Current Market Cap - Rs.2,523,759,750.00

AFSL
Date of Opening - 27th June
No. of shares - 37,000,000
Reference Price - Rs.9.50
First Day Closing Price - Rs.79.80
First Day Market Cap - 2,952,600,000.00
Highest Price - Rs.104.50
Highest Market Cap - Rs.3,866,500,000.00
Current Price (as at 06th July closing) - Rs.67.40
Current Market Cap - Rs.2,493,800,000.00