This is my personal experience with Pan Asia Banking Corporation PLC
I brought Pan Asia Banking Corporation PLC shares 08th February 2011 at the price of Rs.57.50 per share. After I purchased share price dropped heavily and reaches in Rs.49.50 in some days.
In today [28th April 2011] I see the prices are going up suddenly, and I suspect there should be any reason to prices to going up,
My reason was,
- May rights issue coming in,
- Dividend may announce soon
- May be acquire by big buyer,
- New expansion announcement may issue,
Even I thought these reasons I don’t like to keep these shares for long time, cause I had enough liquidity loss for these 3 months, so I plan to sell this today at a good price.
Therefore I asked my broker; is there any news they having about the Pan Asia Banking Corporation PLC, but he says he don’t know anything but he also suspecting there will be an announcement today.
I asked to sell
I asked my share broker to sell all my Pan Asia Banking Corporation PLC shares at the price of Rs.60 per shares. This will help me to go out of Pan Asia Banking Corporation PLC without loss.
My ask price was meet the requirement in evening times and sold off, after a 20 to 30 minutes I got to know that Pan Asia Banking Corporation PLC announced Sub Division, after I see the announcement, I feel sorry for Srilanka Stock Exchange, how the Information and the inside Dealings are going on,
“The Sub Division decision took yesterday by the Board of Directors and published the announcement today, while the day some investors got the information and push the market up and collect most of the shares”.
But whoever is playing inside dealing in the market will loosen their money in the market itself. This is not blame, but it’s happened.