Ashok has more shares in Softlogic now than IPO time

Thursday, 28 June 2012 01:05 - - {{hitsCtrl.values.hits}}

Chairman Ashok Pathirage at present has more shares in Softlogic Holdings Plc than at the time of its Initial Public Offering (IPO) in June last year.

His current holding is estimated at 343.77 million shares or 44% stake of Softlogic Holdings Plc, as against 325 million shares a year earlier. Though the number is higher, in terms of percentage, Ashok held 50.23% at the time of the IPO.

On Tuesday he picked up a further 5.47 million shares at Rs. 12 each in a deal worth Rs. 65.73 million from former Director Samantha Rajapaksa who is now the Group MD of AMW Ltd.

Ever since Softlogic went public, Ashok has been collecting quantities at different prices. As at March 31, 2012, his stake was 338.3 million shares. During the past year, he is estimated to have bought 22.2 million shares or nearly 3% stake in Softlogic.

The IPO was at Rs. 29 per share whilst yesterday it closed at Rs. 10 level, down by 65.5%.

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