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LOLC FINANCE PLC (LOFC.N0000)

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Academic
ABEST
101 posters

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ABEST


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

LOFC goes public on June 30 : LOLC sells 10% LOFC stake

The listing is in accordance with a mandatory Central Bank requirement which makes all finance companies to go public.

LOLC has also in accordance with the Central Bank requirement, divested 10 percent of the shares that it had in LOFC, where 280 million shares of the parent company in the subsidiary was sold at Rs. 5 per share at a value of Rs. 1.4 billion through a private placement, LOLC Group Managing Director Kapila Jayawardena told Daily News Business yesterday.

The private placement had a large number of high networth investors and some institutional investors as well, he said.

Despite stiff competition arising from the banking sector, Lanka ORIX Finance Company has increased its deposit base by Rs. 7.3 billion (72 percent) during the last financial year.

LOFC’s performance is significant when compared with the 16 percent growth in deposits in banks and the 22 percent growth of deposits in Registered Finance Companies (RFC) in 2010. This has resulted in an increase of the market share of LOFC in the RFC sector to 9.9 percent from 7.5 percent a year ago, he said.

LOFC which commenced business operations in 2003 has now spread its wings to establish itself as the leading RFC in the country. LOFC’s footprint covers a wide network of strategic locations throughout the island allowing the Company to reach a broad base of deposit and lending customers. LOFC already has an expanding business portfolio which includes fixed deposits, savings, leasing, loans among many others, which caters to Individuals, Corporates and SMEs. LOFC is the only RFC in the country with Central Bank of Sri Lanka (CBSL) approval to mobilize foreign currency savings and deposits.

The holding company LOLC, after assuming its position as a diversified conglomerate expects Lanka ORIX Finance Company to take over the mantle of the leading financier to the SME sector with a significant portion of the LOLC business being placed through LOFC. Leveraging on group synergies, LOFC is expected to penetrate existing and new markets, and is poised for a quantum growth.

In keeping with the strong deposit mobilization, the Company was able to expand its asset base showing strong growth in the lending portfolio growing by 134 percent over the previous year to Rs 20.8 billion.

Looking to the future, with the positive macro economic growth prospects forecasted for Sri Lanka, LOFC expects greater momentum in deposit mobilization and disbursements in the coming years supported by the expanding branch network and its foray into the fast growing Northern and Eastern markets.

In the interim, LOFC brand has now gained wide acceptance for its products and services and is amongst the top brands in the country, Jayawardena said.

source - www.dailynews.lk

http://srilankastockpicks.blogspot.com/2011/06/lofc-goes-public-on-june-30-lolc-sells.html

2LOLC FINANCE PLC (LOFC.N0000) Empty Today's joke - LOFC at Rs. 16/= Thu Jul 07, 2011 9:37 am

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

See the order book and trading price of a share with EPS of Rs 0.60s. Shocked

P.S. To moderates, and admin: Please do not move this post to Expert Chamber.



Last edited by Academic on Thu Jul 07, 2011 10:02 am; edited 1 time in total

3LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 9:50 am

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

It's a joke if there ever was one. LOFC is bigger than LOLC. right now Smile

eight largest company in the country. bigger than HNB, SPEN & CARG affraid

4LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 9:53 am

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Up to now it's 350% up. It's similar to CDB went up to 160/- within an hour on the introduction day.

5LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 9:54 am

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

Monster wrote:Up to now it's 350% up. It's similar to CDB went up to 160/- within an hour on the introduction day.

yeah but CDB wasn't capped at 62 billion

6LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 10:00 am

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

mono wrote:It's a joke if there ever was one. LOFC is bigger than LOLC. right now Smile

eight largest company in the country. bigger than HNB, SPEN & CARG affraid

Say we have 1Kg cake and 2kg cake. Do you think one twentieth (1/20) of 2Kg cake is worthy than one tenth (1/10) of 1Kg cake, just because 2Kg cake is bigger than 1Kg cake? Any rational? Question

7LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 10:14 am

econ

econ
Global Moderator

mono wrote:It's a joke if there ever was one. LOFC is bigger than LOLC. right now Smile

eight largest company in the country. bigger than HNB, SPEN & CARG affraid

I wonder how much profit this Ishara and clan earned from this LOFC introduction.
this is the best business .. no sweat at all just sell down with the introduction Laughing

8LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 10:23 am

hunter

hunter
Moderator
Moderator

econ wrote:
mono wrote:It's a joke if there ever was one. LOFC is bigger than LOLC. right now Smile

eight largest company in the country. bigger than HNB, SPEN & CARG affraid

I wonder how much profit this Ishara and clan earned from this LOFC introduction.
this is the best business .. no sweat at all just sell down with the introduction Laughing

So, that profit might make LOLC go up; shouldn't it?

9LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 10:27 am

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

hunter wrote:
econ wrote:
mono wrote:It's a joke if there ever was one. LOFC is bigger than LOLC. right now Smile

eight largest company in the country. bigger than HNB, SPEN & CARG affraid

I wonder how much profit this Ishara and clan earned from this LOFC introduction.
this is the best business .. no sweat at all just sell down with the introduction Laughing

So, that profit might make LOLC go up; shouldn't it?

It goes to the pockets of respective owners (not to LOLC). This is similar to story Expo said "we sold part of our stake to settle debts of the company".

10LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 10:29 am

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

in any case given the small volume that is being traded it's hard to see how LOLC would make such a large profit

11LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 10:30 am

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics

mono wrote:
Monster wrote:Up to now it's 350% up. It's similar to CDB went up to 160/- within an hour on the introduction day.

yeah but CDB wasn't capped at 62 billion

Machan, thats why we want short selling. I would be pretty happy to be short if possible now. its traded at 20 evevn.

12LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 10:41 am

dewminigamlath


Manager - Equity Analytics
Manager - Equity Analytics

dewminigamlath wrote: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

This was my analysis yesterday.

13LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 10:48 am

ISURU

ISURU
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

With the massive movement of LOFC, ASPI also gone up by a massive percentage.
It changed the market. Very Happy

14LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 10:52 am

ISURU

ISURU
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

econ wrote:
mono wrote:It's a joke if there ever was one. LOFC is bigger than LOLC. right now Smile

eight largest company in the country. bigger than HNB, SPEN & CARG affraid

I wonder how much profit this Ishara and clan earned from this LOFC introduction.
this is the best business .. no sweat at all just sell down with the introduction Laughing
Not only Ishara and clan, all the employees who are in asst.manager above grades.

15LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 11:40 am

dilz


Equity Analytic
Equity Analytic

i bought at 16 in the moring and sold at 18.50 eithin 10 mins.then bought at 22 ayo now its going down.y is that?

16LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 11:43 am

ISURU

ISURU
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

I bought at 17 and sold at 19s. Very Happy
Thanks LOFC

17LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 11:53 am

dilz


Equity Analytic
Equity Analytic

shit LOFC

18LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 11:54 am

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Our small retailers Oh Noooo Evil or Very Mad Evil or Very Mad

Why they want to setup timing bombs here n there? These bombs will blast hurting many other genuine investors. Mad Mad

19LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 12:00 pm

dewminigamlath


Manager - Equity Analytics
Manager - Equity Analytics

A friend of mine bought @ 16 and sold @ 22 (he bought only a small number of shares due to uncertainty). Now it has gone down to 15. Some big amounts of shares were trading above 20. There's a RUMOR that the parent company is trying to get rid of its holdings.

20LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 12:06 pm

Malan1986

Malan1986
Equity Analytic
Equity Analytic

dewminigamlath wrote:A friend of mine bought @ 16 and sold @ 22 (he bought only a small number of shares due to uncertainty). Now it has gone down to 15. Some big amounts of shares were trading above 20. There's a RUMOR that the parent company is trying to get rid of its holdings.

Would it be going down below 15/=.. i bought 16/= & sold 18.5/= i want to but it again pls advise what is the good price to proceed it again????

21LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 12:12 pm

ISURU

ISURU
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

dilz wrote:i bought at 16 in the moring and sold at 18.50 eithin 10 mins.then bought at 22 ayo now its going down.y is that?
Oh still didn't you sell?

22LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 12:21 pm

laksharemk


Senior Equity Analytic
Senior Equity Analytic

15M traded, still 9M bids and only 4.3M asks ???
Can't understand this Question

23LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 12:23 pm

ISURU

ISURU
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Yep still buyers' interest is higher. Some thing going on.

24LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 12:27 pm

laksharemk


Senior Equity Analytic
Senior Equity Analytic

No panic selling either

25LOLC FINANCE PLC (LOFC.N0000) Empty Re: LOLC FINANCE PLC (LOFC.N0000) Thu Jul 07, 2011 12:47 pm

Bhagi123

Bhagi123
Equity Analytic
Equity Analytic

bought at 16 and sold at 20s
bounce

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