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EPF buys more of VOL while Vallibel One buys 1.2% stake in Hayleys from Godamune

5 posters

Go down  Message [Page 1 of 1]

aladdin

aladdin
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Vallibel One Ltd., yesterday bought around 900,000 shares or 1.2% stake in Hayleys Plc from longstanding shareholder and former Director L.K.B. Godamunne, who is believed to have exited.
Around 942,184 shares of Hayleys traded between a high of Rs. 366 and a low of Rs. 360 before closing at Rs. 360.80, down by Rs. 4.20. Of the quantities traded 937,000 shares were done at Rs. 360 each.
VOL is controlled by Dhammika Perera, who controls 31% stake of Hayleys in addition to being Deputy Chairman. Godamunne, didn’t accept the mandatory offer from Dhammika early this year at Rs. 380 per share. It is believed that Godamunne and connected parties had exited from Hayleys. As at 31 June, 2011, he via his wife had held around 807,000 shares.

http://www.ft.lk/2011/08/19/vallibel-one-buys-1-2-stake-in-hayleys-from-godamune/

EPF buys more of VOL

Biggest fund EPF continued its aggressive buying into Vallibel One Ltd., yesterday as well.
Around 8 million shares of VOL traded between a high of Rs. 30.20 and a low of Rs. 29.30 before closing at Rs. 29.60, down by 20 cents.Of the quantity traded EPF is estimated to have bought 4 million shares at Rs. 30 each with the seller being Nimal Perera who is also the Executive Deputy Chairman of VOL.

http://www.ft.lk/2011/08/19/epf-buys-more-of-vol/

damayanthi

damayanthi
Senior Equity Analytic
Senior Equity Analytic

So does this make VOL a good buy

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics

damayanthi wrote:So does this make VOL a good buy

Both transactions are not good for the respective shareholders. VONE will stagnate for a period of time as NP has scale down. HAYL will stagnate till DP/NP buy full controll. Thats why I think Godamunne has decided to sell - HAYL's future is going to be after DP/NP buys enough.

Hiru


Manager - Equity Analytics
Manager - Equity Analytics

What I have observed is we have to buy when NP dispose some shares because his practice is to book any profit available at a point of time and collect more shares at lower prices for future appreciations.

Once re-collected enough quantity he will lead the uptrend.

Rocky

Rocky
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Hiru wrote:What I have observed is we have to buy when NP dispose some shares because his practice is to book any profit available at a point of time and collect more shares at lower prices for future appreciations.

Once re-collected enough quantity he will lead the uptrend.

Don't fight nature. You can surf the waves'

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