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Sri Lanka Equity Forum » Stock Market Talk » JINS Share Repurchase

JINS Share Repurchase

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1 JINS Share Repurchase on Fri Feb 23, 2018 9:49 am

thankrishan


Manager - Equity Analytics
Manager - Equity Analytics
Its an opportunity, where the repurchase will be at 36.70 and current price is 33.

2 JINS IS SCREWING THE SHARE HOLDERS on Fri Feb 23, 2018 1:08 pm

lokka1


Manager - Equity Analytics
Manager - Equity Analytics
The buy back proposal from JINS is really not a good deal for its shareholders. While the company has made a handsome deal to sell the company for about Rs. 30.40 share it has offered to buy back only 3/5 shares for only Rs. 36.70. This means the price of a share in the market will drop to Rs. 22.02 and screw 2/5 of the share holders. The company is getting a very good deal and is really hurting the loyal shareholders like us who have been with the company from the beginning!. They did not even give a dividend this time. Therefore I urge the average shareholders to vote this proposal down at the special AGM tomorrow. They should offer to buy back all of the shares  for the price they are getting plus the missing Rs. 1 dividend they should have given which is about Rs. 31.40 total and not the lousy deal they are offering. Forum members unite and agitate for a better deal!
Lokka1

3 Re: JINS Share Repurchase on Fri Feb 23, 2018 2:07 pm

DS Wijesinghe


Manager - Equity Analytics
Manager - Equity Analytics
@lokka1 wrote:The buy back proposal from JINS is really not a good deal for its shareholders. While the company has made a handsome deal to sell the company for about Rs. 30.40 share it has offered to buy back only 3/5 shares for only Rs. 36.70. This means the price of a share in the market will drop to Rs. 22.02 and screw 2/5 of the share holders. The company is getting a very good deal and is really hurting the loyal shareholders like us who have been with the company from the beginning!. They did not even give a dividend this time. Therefore I urge the average shareholders to vote this proposal down at the special AGM tomorrow. They should offer to buy back all of the shares  for the price they are getting plus the missing Rs. 1 dividend they should have given which is about Rs. 31.40 total and not the lousy deal they are offering. Forum members unite and agitate for a better deal!
Lokka1
After the the buy back there will only be 220 Mn No. of shares. Life company is expected make more than  a billion rupee net profit hopefully. Also they will have a few billions left from the General arm sale.

Therefore my gut feel there could be dividend coming in soon after the re-purchase is completed. At least Rs. 10 dividend cannot be ruled out

Also following years you could expect minimum 4-5 rupee dividend therefater if they don't sell out JINS too. Even if they sell you would be rewarded handsomely

With the re-purchase don't forget WHT is eliminated

4 Re: JINS Share Repurchase on Mon Feb 26, 2018 10:04 am

DS Wijesinghe


Manager - Equity Analytics
Manager - Equity Analytics
JINS results are out and life NP is no where close to billion. So I withdraw my earlier prediction

Lokka1, What happened at the EGM held yesterday(24th) ?

5 Jins EGM on Mon Feb 26, 2018 5:13 pm

lokka1


Manager - Equity Analytics
Manager - Equity Analytics
Sorry i could not attend. I am also waiting for news.Lokka1

6 Re: JINS Share Repurchase on Wed Feb 28, 2018 1:08 pm

thankrishan


Manager - Equity Analytics
Manager - Equity Analytics
Price may fall further below, they need approval from insurance monitory commission. This is a mess.

7 Re: JINS Share Repurchase on Mon Mar 05, 2018 10:31 am

samnishd


Stock Trader
Hi, 

I am new here and got some JINS. Just wondering about the process of accepting the repurchase offer (If approved by the insurance monitory commission). Do I need to request through the broker?. Really appreciate if someone can give me some tips on what to expect. Thanks

8 JINS REPURCHASE OFFER on Mon Mar 05, 2018 6:20 pm

lokka1


Manager - Equity Analytics
Manager - Equity Analytics
Ask your broker to submit 3/5th of the shares you had on the close of February 28th to the JINS company on March 7th. Do not worry about the Insurance Commission approval. They will give it. Get in line first with your offer. You are ahead by Rs. 10 right now. Eventually the price will drop to Rs. 22!
Lokka1

9 Re: JINS Share Repurchase on Tue Mar 06, 2018 11:09 am

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@lokka1 wrote:Ask your broker to submit 3/5th of the shares you had on the close of February 28th to the JINS company on March 7th. Do not worry about the Insurance Commission approval. They will give it. Get in line first with your offer. You are ahead by Rs. 10 right now. Eventually the price will drop to Rs. 22!
Lokka1
20/= possible.

10 Re: JINS Share Repurchase on Wed Mar 07, 2018 10:25 am

samnishd


Stock Trader
Thanks Lokka1 and samaritan for the info. Really appreciate that. Smile

11 Re: JINS Share Repurchase on Mon Apr 16, 2018 9:09 pm

Prasanna Hw


Stock Trader
Will the JINS go further up if this quater results are good.

12 Re: JINS Share Repurchase on Tue Apr 17, 2018 7:03 am

EquityChamp

avatar
Moderator
@lokka1 wrote:Ask your broker to submit 3/5th of the shares you had on the close of February 28th to the JINS company on March 7th. Do not worry about the Insurance Commission approval. They will give it. Get in line first with your offer. You are ahead by Rs. 10 right now. Eventually the price will drop to Rs. 22!
Lokka1

Dropping to these levels possible with a deep market recession or the company announced absolutely horrible result. Other than that the share should trade between 25-26 level according to its adjusted PBV.

Also better to keep in mind that there is a degree of speculation that Janashakthi is having negotiations with Aliance to sell its life insurance business as well.

13 Re: JINS Share Repurchase on Wed May 02, 2018 10:49 am

DS Wijesinghe


Manager - Equity Analytics
Manager - Equity Analytics
Janashakthi Insurance PLC Chairman Hussein Esuffally selling big time of his stakes in the company

https://cdn.cse.lk/cmt/upload_cse_announcements/9071525236069_.pdf

https://cdn.cse.lk/cmt/upload_cse_announcements/1021525148293_.pdf

14 Re: JINS Share Repurchase on Thu May 03, 2018 7:27 am

EquityChamp

avatar
Moderator
I think he is taking the advantage of current market price having suffered for many previous years due to poor share price. Also we can't be sure that their future results can be great given that their life insurance business was not the most profitable one in the past.

15 Re: JINS Share Repurchase on Wed May 16, 2018 10:03 pm

Ranil Ranasinghe

avatar
Stock Trader
What will be the next share value for JINS??...  as NAV is 30...what will be the market price..

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