Today 17th January 2011. Singer Finance (Lanka) LTD listed to Colombo Stoke exchange main Board. As every investor expects the Singer Finance (Lanka) LTD was the king of the Colombo Stoke exchange today.
Singer finance issued Shares of 26,666,667 Ordinary voting shares at Rs.15 each. And it’s made a history in CSE with by Oversubscribed more than 120 times [approx 127.7 times].
Today is the day for Singer Finance
As per the today’s trade Singer finance started the first trade at Rs. 35 and reaches highest of Rs. 50.80 and close at Rs. 50 at the end of trading.
The start trading was about more of 233.33% higher than Initial Public offered price [Capital gain of 133.33%]. And the maximum reaches today were a 338.66% and absolute capital gains of 238.66% on the investment.
Quite a good points to note
Today singer Finance Share volume turnover is 21.2979 Million. Its 79.87% of the IPO shares have to transfer. And compare with the listed shares of 106.666667 Million Shares its 19.97% of trading.
This may be a good sign expected by some investor for long term performance for long term investors, the same time may be quick sale will get maximize the capital gain [238.66% without investment] for short term investors.
Therefore the singer finance shares are good for short term capital gains and long term performance as well.
Hope for future
There is a good hope and scope for the singer finance to perform well in future. So the investors do understand their position and trade their shares in future.