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Sri Lanka Equity Forum » Stock Market Talk » AFSL update...

AFSL update...

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1 AFSL update... on Tue Sep 06, 2016 1:26 pm

Teller

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Moderator
Company has announced ,private placement shares have been locked for 3 years.
So AFSL can lead to sky high with new imvestors

See the company statement


http://www.cse.lk/cmt/uploadAnnounceFiles/4941473071363_1069.pdf

2 Re: AFSL update... on Tue Sep 06, 2016 2:01 pm

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics
How soon do you feel it can start moving?

3 Re: AFSL update... on Tue Sep 06, 2016 4:29 pm

Pac-man

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Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
yanawa badu

4 Re: AFSL update... on Tue Sep 06, 2016 6:03 pm

Insight


Equity Analytic
Equity Analytic
Teller,

How can the share price go up with a private placement??
Coz, PP comes with a price of Rs.25/-
Pl.explain
Thanks alot

5 Re: AFSL update... on Tue Sep 06, 2016 8:20 pm

Teller

avatar
Moderator
Yes , this is happening because of this private placement has one condition.
The investors who participated this private placement can't sell any single share till 2019 March.
So there will not be any selling pressure during next 3 years from private placement.
It means very few public holding at the market so easy to go up the prices above 60/- levels.
On the other hand AFSL got lot of free cash for lending to customers but no need to pay any interests for the investor.
So definitely AFSL share prices will be upward no doubt on it

6 Re: AFSL update... on Wed Sep 07, 2016 7:20 am

Insight


Equity Analytic
Equity Analytic
Thanks Teller...

7 Re: AFSL update... on Fri Sep 23, 2016 2:49 am

Teller

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Moderator
Most of the finance companies Started to Run.  AFSl this quarter will be a good one as they received huge money from private placement . 
Private placement shares have been blocked for 3 years. So very few shares in the market . Now GSF,SFL,BLI  have started to run . Next AFSL should be updated above 55 levels at. Least.
Company is doing really well and loan and advances became double with in a year.

8 Re: AFSL update... on Sat Sep 24, 2016 1:16 am

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics
The private placement lock in is great and reduces liquidity for 3 years, the Rs. 25 per share they paid is even better.  

In March the NAV was 16.61, by June it had increased to 18.79.  Yes NAV could have grown more by September anyway but the bigger boost is from the Rs.25 they got for each new private placement share.  

Even without doing the numbers here now, the next big pluses are the benefits of vehicle permits for more loans.  And last but not least, the human asset value of Ironwood Capital who took the private placement.  Read up on their team and see the familiar faces, their track records and huge corporate turnaround operations.  When an incredibly successful team, wants to sail on a particular ship, they are here to pick a bright one full of potential to further enhance.  See their work at Hemas, Actis/Asiri, Ceylon Oxygen, etc for a better idea of the value they've unlocked.

9 Re: AFSL update... on Mon Sep 26, 2016 10:53 am

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics
I maintain that anyone collecting should target the lowest price possible.  The price Ironwood collected at or anything even close by (Rs. 10 or so higher) might be difficult as there are very few shares on the market.  Ironwood aren't here to make only 5 or 10 % so the prospects must be really good for them to get in.  Also my reference about their work at Hemas, Actis/Asiri, Ceylon Oxygen, etc is about the activities Ironwood directors have played a critical part in.

10 Re: AFSL update... on Tue Sep 27, 2016 2:14 pm

onenine87


Equity Analytic
Equity Analytic
Gallardo wrote:I maintain that anyone collecting should target the lowest price possible.  The price Ironwood collected at or anything even close by (Rs. 10 or so higher) might be difficult as there are very few shares on the market.  Ironwood aren't here to make only 5 or 10 % so the prospects must be really good for them to get in.  Also my reference about their work at Hemas, Actis/Asiri, Ceylon Oxygen, etc is about the activities Ironwood directors have played a critical part in.
 

There is another right issue in the pipeline at Rs.25

11 Re: AFSL update... on Wed Sep 28, 2016 9:25 am

Teller

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Moderator
If another right issue is there 25/_, before that AFSL will touch 60 levels because exiting share holders will get the benifit for rights.

12 Re: AFSL update... on Wed Sep 28, 2016 10:50 am

onenine87


Equity Analytic
Equity Analytic
Teller wrote:If another right issue is there 25/_, before that AFSL will touch 60 levels because exiting share holders will get the benifit for rights.  
 Hi Teller

Can you explain it further...??? Thanks

13 Re: AFSL update... on Wed Sep 28, 2016 11:07 am

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics
Considering that the last rights issue only concluded in April and was successfully oversubscribed, how likely is another on and exactly how soon do you expect?  2 years? 3/4?  This April's right issue might have been the first time since listing. 

Also,  before Ironwood invested through a private placement, they would get a concrete agreement on future rights issue timelines.  Otherwise they risk diluting their shareholding after investing so much if they fail to subscribe.

14 Re: AFSL update... on Wed Sep 28, 2016 1:31 pm

nimantha80


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
AFSL is a dirty game.It's kept down to collect.Will reach 50 easily all micro finance companies moving why not AFSL

15 Re: AFSL update... on Wed Sep 28, 2016 2:31 pm

onenine87


Equity Analytic
Equity Analytic
Gallardo wrote:Considering that the last rights issue only concluded in April and was successfully oversubscribed, how likely is another on and exactly how soon do you expect?  2 years? 3/4?  This April's right issue might have been the first time since listing. 

Also,  before Ironwood invested through a private placement, they would get a concrete agreement on future rights issue timelines.  Otherwise they risk diluting their shareholding after investing so much if they fail to subscribe.

Wait and see..within this year next right issue will be finalized after the private placement. I wanted to know how it affect to current market price. 

Dear Teller...
could you explan

16 Re: AFSL update... on Wed Sep 28, 2016 2:56 pm

Teller

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Moderator
I don't think any right issue with in 3 years.

17 Re: AFSL update... on Mon Oct 03, 2016 7:47 pm

point

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Manager - Equity Analytics
Manager - Equity Analytics
An interesting share to study. Very small quantity outside.Good performances. Why no movement yet ????  Need a real movement

18 Re: AFSL update... on Mon Oct 03, 2016 9:03 pm

Teller

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Moderator
Slowly Collection is going on. It will post very good financial report for the last quarter . We will see sudden blast at any time in coming days.

19 Re: AFSL update... on Fri Mar 17, 2017 7:14 pm

Wimal Modawansa

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Senior Equity Analytic
Senior Equity Analytic
It is reported that AFSL is in deep trouble and the profit for February is only Rs 100,000 and the major share holder Abans Will not subscribe for the rights issue.The share is trading at 23.10 as against the rights price of Rs 25.00.Market is being manipulated and one  share was traded at 28.10 to mislead the investors.

20 Re: AFSL update... on Sat Mar 18, 2017 10:43 am

fortuneteller

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Senior Equity Analytic
Senior Equity Analytic
A Consultant by the name of Eric Rajendra too quoted that Abans PLC (Parent Company)  is in the verge of collapse due to their investment on mixed development  "Colombo City Centre project"where the investment has increased and delays in completion .

He also said that the current chairperson is too old over 86 years and the Managing Director is also a sick person.With no succession plan and weak top management and the group not generating Cash flow,they will not take up the right issue shares of Abans Finance PLC.

Profit of Abans Finance PLC for the month of February is only Rs 100,000/=

Abans Finance PLC is also reported to be manipulating the profits.The share is trading at 23.10 as against the rights issue price of 25.00.

number of false trades of one share each is being traded to artificially push the share price.



Last edited by fortuneteller on Sat Mar 18, 2017 10:54 am; edited 1 time in total (Reason for editing : to provide accurate info)

21 Re: AFSL update... on Sun Mar 19, 2017 10:05 pm

Top Trader


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Wimal Modawansa wrote:It is reported that AFSL is in deep trouble and the profit for February is only Rs 100,000 and the major share holder Abans Will not subscribe for the rights issue.The share is trading at 23.10 as against the rights price of Rs 25.00.Market is being manipulated and one  share was traded at 28.10 to mislead the investors.

From where u got this 100,000/= profit detail?

22 Re: AFSL update... on Mon Mar 20, 2017 2:53 pm

Wimal Modawansa

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Senior Equity Analytic
Senior Equity Analytic
It should read as Hugh loss position adjusted to near zero profit and not Rs 100,000/= profit.

23 Re: AFSL update... on Mon Mar 20, 2017 3:19 pm

Wimal Modawansa

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Senior Equity Analytic
Senior Equity Analytic
"Fortune teller Commented"- A Consultant by the name of Eric Rajendra too quoted that Abans PLC (Parent Company)  is in the verge of collapse due to their investment on mixed development  "Colombo City Centre project"where the investment has increased and delays in completion .

He also said that the current chairperson is too old over 86 years and the Managing Director is also a sick person.With no succession plan and weak top management and the group not generating Cash flow,they will not take up the right issue shares of Abans Finance PLC.

Profit of Abans Finance PLC for the month of February was near "Zero" after adjusting the Hugh loss figure.

Abans Finance PLC is also reported to be manipulating the profits.The share is trading at 23.10 as against the rights issue price of 25.00.

number of false trades of one share each is being traded to artificially push the share price.

24 Re: AFSL update... on Wed Mar 22, 2017 8:49 am

Wimal Modawansa

avatar
Senior Equity Analytic
Senior Equity Analytic
Not only profits are manipulated, When the share is trading at 23.80 fraudulent transactions of one share each is traded at high price of 25.80 to mislead the investors.

25 Re: AFSL update... on Fri Mar 24, 2017 10:25 pm

onenine87


Equity Analytic
Equity Analytic
fortuneteller wrote:A Consultant by the name of Eric Rajendra too quoted that Abans PLC (Parent Company)  is in the verge of collapse due to their investment on mixed development  "Colombo City Centre project"where the investment has increased and delays in completion .

He also said that the current chairperson is too old over 86 years and the Managing Director is also a sick person.With no succession plan and weak top management and the group not generating Cash flow,they will not take up the right issue shares of Abans Finance PLC.

Profit of Abans Finance PLC for the month of February is only Rs 100,000/=

Abans Finance PLC is also reported to be manipulating the profits.The share is trading at 23.10 as against the rights issue price of 25.00.

number of false trades of one share each is being traded to artificially push the share price.

@fortuneteller

You are 100% correct sir.. Abans Plc is going to give up the rights and also planing to sell shares got from the previous right issue.

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