Ashok gets hard on Softlogic

Tuesday, 9 August 2011 01:29 - - {{hitsCtrl.values.hits}}

Chairman and controlling shareholder Ashok Pathirage returned to the Bourse buying shares of Softlogic Holdings yesterday.

Via a crossing, he bought 1 million shares at Rs. 23 each. With yesterday’s purchase, he has picked up 11 million shares for Rs. 256 million since Softlogic Holdings listed itself on the Colombo Stock Exchange on 12 July. Prior to yesterday his last purchase was 3.3 million shares for Rs. 90.4 million on 15 July.

In the first week of trading, Ashok bought 10 million shares of Softlogic for Rs. 233 million.

Prior to the IPO, Ashok was holding 50.23% stake in the company whilst he and the directors held a combined stake of 78.26%.

Yesterday 2.65 million Softlogic Holding shares traded between a high of Rs. 23.20 and a low of Rs. 22.50 before closing 10 cents lower at Rs. 23. The highest share price had been Rs. 28, one rupee lower its IPO price whilst the lowest was Rs. 16.20.