About
While I am new to the market I just applied to Singer finance IPO with my side analysis and predictions. I request for 1000 shares, later the company allocated me for 500 shares according to their allotment scheme.
My expectations before singer finance come to market
I had a friend in office; who always talk about share market and the performance of the market. And he is the one motivator for me to enter Share Market as well.
While the time Colombo Stoke Exchange announced to the public it’s oversubscribed more than 120 times. According to the market trend I expect the singer finance can be double the price of its IPO price. And it can be a range between Rs. 30 to Rs. 35.
Even I expect the double I don’t having planned to sell those shares. And I like to look for a long term investment on it and enjoy the long term performance.
The first day of trading in CSE
17th January 2011, the singer finance listed in the main board of CSE. The first trading started with the price of Rs.35 per share. I didn’t have an idea to sell it even it prices reached 40’s.
But in 45 minutes time its reaching about 45 to 46 to be cleared, while I realized this may be good time to sell, so I called to my Investment advisor and told to sell singer finance shares at Rs.50 each.
In about 30 minutes the prices came down and the range was between Rs.41 to Rs.43. Therefore I call my investment advisor again and asked him to remove the sell order and said I like to keep it for long term.
After sometimes I refuse to see the market movement and see the price movement, but about 1.45pm I have a look on it. The market was about Rs.48 per share.
Then I again call to my investment advisor and told if you can sell the shares at the Price of Rs. 50.but I was not sure whether it will realized the day or after. But about 2.25 pm singer finance cleared the price of Rs.50.
My Profits
Compare to the Price I earn a capital gain of 2.33 times of my investment. This is an absolute investment opportunity for Srilankan and foreign investors.
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