Browns Investment Rights Issue 1:1 @ Rs. 1.25

[SrirangaVeteran]

http://www.cse.lk/cmt/upload_cse_announcements/8811402368222_.pdf

[Ethical TraderTop contributor]

Huge debt, once its cleared the balance sheet would be good looking. NAV around Rs:5.00.

[First Guy]

Huge debt, once its cleared the balance sheet would be good looking. NAV around Rs:5.00.

NAV includes a large portion of "biological assets" if i remember correct.

[cseinvestor]

Present share holders who thought Rs 2.2 was great for 5 NAV company are going to be hit badly .

After issue, NAV is going to be Rs 3+. Shares in market over 3.5 billion.
Even after rights they will have considerable loans remaining.

Seems this will come down to Rs 1.5 or below. The effect on FLCH needs to be monitored also.

Hope this group will not become another CFLB/LCEY group.

[Ethical TraderTop contributor]

Huge debt, once its cleared the balance sheet would be good looking. NAV around Rs:5.00.

NAV includes a large portion of "biological assets" if i remember correct.

Yes, its over 3 billion and also over 1.2 billion intangible assets. ?Can any one give more details exactly what they are.

I also noticed that current portion of interest bearing loans under current liabilities is substantial.

[Ethical TraderTop contributor]

Present share holders  who thought Rs 2.2 was great for  5 NAV  company are going to be hit badly .

After issue, NAV is going to be Rs 3+. Shares in market over 3.5 billion.
Even after rights they will have considerable loans remaining.

Seems this will come down to Rs 1.5 or below.  The effect on FLCH needs to be monitored also.

Hope this group will not become another CFLB/LCEY group.

Exactly.

[balapasTop contributor]

GREG is going to get hit with this as well as they have 372mn shares. They bought shares at 5.50 if I remember correct.

[UkboyTop contributor]

GREG is going to get hit with this as well as they have 372mn shares. They bought shares at 5.50 if I remember correct.  

Agree.