Pathirage bought 5.6 million shares

MD of SHL, AKP has bought 5.6 million shares for Rs.121 million that made it to push todays high.

This will eventually be pushed towards crossing 29 mark. How long it can sustain... only god knows?

on 12.07 he bought 3,200,100 shares at the cost of Rs. 71,692,400/= & another director bought 100,000 sahres at 1,825,250/= as per earlier announcement and changes to that also there - http://www.cse.lk/cmt/upload_cse_announcements/3801310547223_.pdf

this guy may want to push this share up . but if he really care about the company why the hell he give shares at lower price to Private placement guys and higher price to retailers. or may he use retailers money from IPO to buy back at lower prices??

econ wrote:this guy may want to push this share up . but if he really care about the company why the hell he give shares at lower price to Private placement guys and higher price to retailers. or may he use retailers money from IPO to buy back at lower prices??

Simple logic. You have sold at 29 and bought at 21. Should we believe this guys?

This is not simple logic.
In an IPO the subscription money ( @ 29/- per share ) goes to the Company, not to existing shareholders.
The purchases by Mr Pathirana ( @ 21 /- ) is through his money. He won't benefit ditectly through this transaction ,as implied by you.

This may be a damage control attempt.

when things are unclear all you have to do is not buy. there are plenty of fish in the sea.

Liber Abaci wrote:

This is not simple logic.
In an IPO the subscription money ( @ 29/- per share ) goes to the Company, not to existing shareholders.
The purchases by Mr Pathirana ( @ 21 /- ) is through his money. He won't benefit ditectly through this transaction ,as implied by you.

This is simple manipulation.
Why do Perera and Pathirage buy shares of their own companies? They're already the major shareholders and they were the decision makers for IPO, selling off or private placement whatever. May be they accidentally clicked the sell button earlier (like seylan bank transaction) and buying again.

Actually there aren't many fish in the sea. CSE doesn't represent the Sri Lankan economy. There's very few listed companies (may be other than bank/finance and plantations.) Hope this expands into at least 50 new companies per year over the next quarters and years.

gann wrote:when things are unclear all you have to do is not buy. there are plenty of fish in the sea.

Your advice is very much clear for us.
This conversation will be very important to prevent investors burn by future pathirages. We can't stop shameless Pathiragess. But we need to stop investors

I really dont know whether I need to cry or laugh..

All I can see,

He is trying hard hold the falling fort (most probably by using IPO money).

UKboy wrote:I really dont know whether I need to cry or laugh..

All I can see,

He is trying hard hold the falling fort (most probably by using IPO money).

nice signature buddy

u knw in todays FT it mentioned Carsons group who subscribe form Pvt plcmnt sold thr shares @ 20 ~ 20 below ranges .....

This guy again buying those junk again to keep steady the prices ......

& thy buying AAIC for huge amt .. i dnt whc money going to used ... is it weather IPO money.... bcz thy told thr in HUGE Credit with Asiri grp ... to recover from crtd. thy go IPO ..

now IPO mission changed to somthng else

day by Day policy getting changed .... HOW WE CAN BELIEVE ???

Its a business conglomerate... One of my lecturers said few years back that Pathirage wants SHL to be right next to JKH.. I dont think he will leave his angel to go astray..

ashlee wrote:Its a business conglomerate... One of my lecturers said few years back that Pathirage wants SHL to be right next to JKH.. I don't think he will leave his angel to go astray..

Trying to = with JKH is a Day dream of Damn Pathirage...even VONE cant come close to JKH in terms of credibility & reputation...!What a MR Pathirage...!

Any way he may be trying hard to push SHL up to 29 & let his employees sell to settle Credit Loans offered by Soft Logic Finance...if not happend ...the Finance Co as well as Mr. Pathirage is finished...CBSL is watching the screen play, and for putting the employtees in trouble...for sure the Employees will kik out its so called Genius Chairmen Mr Pathirage , in coming months if not for days...

RIO wrote:

ashlee wrote:Its a business conglomerate... One of my lecturers said few years back that Pathirage wants SHL to be right next to JKH.. I don't think he will leave his angel to go astray..

Trying to = with JKH is a Day dream of Damn Pathirage...even VONE cant come close to JKH in terms of credibility & reputation...!What a MR Pathirage...!

Any way he may be trying hard to push SHL up to 29 & let his employees sell to settle Credit Loans offered by Soft Logic Finance...if not happend ...the Finance Co as well as Mr. Pathirage is finished...CBSL is watching the screen play, and for putting the employtees in trouble...for sure the Employees will kik out its so called Genius Chairmen Mr Pathirage , in coming months if not for days...

Until he can suck blood from investors, employees why he can't bring SHL = JKH ?
I have a eagle insurance card but I won't go to his hospital. I am fear to go there. They can do anything to make money

It seems that some thing fishy is going for sure.
Pathirage dude may buy SHL shares at lower price from IPO money he got from poor retailers . who knows he is the chairman of the company .
and also no disclosure on how they finance AAIC deal either? Most probably pathirage use IPO money for that purpose too??

RIO wrote:

ashlee wrote:Its a business conglomerate... One of my lecturers said few years back that Pathirage wants SHL to be right next to JKH.. I don't think he will leave his angel to go astray..

Trying to = with JKH is a Day dream of Damn Pathirage...even VONE cant come close to JKH in terms of credibility & reputation...!What a MR Pathirage...!

I dont think JKH is a credible company anymore.. JKH capital CT capital are the promoters of unethical IPOs of Expo and Softlogic.. and the JKH capital head Balendra try to defend his pricing on Expo too.
unfortunately this guy is the CSE chairman now.

what will happen browns investment

Is He buying to create an artificial demad to push the price to 29 level or higher to save his employees who bought @29 ?

UKboy wrote:I really dont know whether I need to cry or laugh..

All I can see,

He is trying hard hold the falling fort (most probably by using IPO money).

You can laugh, if bought @ 18 and sold @ 25. That is all I can say about this drama.

I bought at Rs 17.50 and sold at Rs 20 because I did not want to get more risk on this. I will try again if it touched Rs.15.

sapumal wrote:Pathira is guy with fake personalty. He is GREG,Dilith, Nimal Perera type businessmen. I am not sure that he earn money from killing patients

We must salute Dhammika Perera. Perera didn't discriminate PP investors and poor retail investors.

Pathira might think that all of his products are bought by few high networth investors.

guys keep u r shares for at-lest for one months and i m sure AP will give u good return in future.

Hiru wrote:I bought at Rs 17.50 and sold at Rs 20 because I did not want to get more risk on this. I will try again if it touched Rs.15.

bought @ 18.00 and sold it on 23.90

ashlee wrote:Its a business conglomerate... One of my lecturers said few years back that Pathirage wants SHL to be right next to JKH.. I dont think he will leave his angel to go astray..

I'M SURE SHL WILL PASS JKH IN FUTURE.
shl will be the best diversified company in sri lanka

this from www.dailymirror.lk..

However in an earlier interview with the Mirror Business, Soflogic Chairman and Managing Director Ashok Pathirage said that the price difference between the IPO price and offer price was solely due to valuations.

“The price difference is solely done on valuations. During the time we went for a private placement, the forecasted profit was around Rs.150-200 million. But for the year ended March 2010/11, we have made Rs.855 million after tax profit” Pathirage said.

“The IPO price is based on the expected net profit for FY 2011/12, which we anticipate to be Rs.1.8 billion. Our valuations are based on 12 times of P/E of the conglomerate sector. We are in fact giving our share at a 40 percent discount to the current P/E levels of conglomerates,” Pathirage added.

According to a five-year forecast of the company, the post tax profit is expected to go up to Rs.1.8 billion in 2012 and to Rs.2.7 billion in 2013. The expected profit in 2014 is Rs.3.1 billion.

and also..
http://forum.srilankaequity.com/t6648-softlogic-makes-expolanka-look-good#45247

Pradeeptha_oo7,
However now already goodwill of this company has been thoroughly damaged. Employees who obtained credit to buy shares are also disapointed and they are now angry with management. The management could have considered the comments made by small investers about extreemely high IPO price of several companies recently and issue at a reasonable price which subscribers also could earn a profit .Now they will have to redraft their busines plan and more waight in that need to be rebuild its reputation. If Emplyees have been efected and frustrated Company will have to plan for a remedy.