Sri Lanka Market Follower Reveals Watch Dog’s ‘Goni Billa’ Price Band Theory?

By CSE Leaks Professor

The so called unexplained ‘Goni Billa’ Formulae or the 10% Price Band Theory implemented by the Buckle Tight Watch Dogs of Sri Lanka’s Capital Market was revealed to CSE Leaks by a leading market follower in the country.

“According to our studies if a company has more than 30% of Public Float, that share will never get caught to ‘Goni Billa’ Price Band” said the well versed market analyst to CSE Leaks.

“That is why REEF.N was never caught with Price Band. I guarantee similarly that if Touchwood (TOUCH) share reach Rs.500 within a day it will never get caught to ‘Goni Billa’ because there is no major shareholder for Touchwood. It is 100% guaranteed Touchwood will not get caught to 10% Price Band” he concluded.

Schaffter’s Dunamis Capital (CSEC) to go for a Private Placement?

From the sources close to some of Sri Lanka’s High time investors, CSE Leaks learns that Insuring family, Schaffters owned Dunamis Capital PLC (CSEC) former Kshatriya Holdings is going for a large scale private placement to raise funds for the group’s future expansions.

At recent times Dunamis had shed its many shell companies while the company had also gone for a rights issue offering 24.59 million shares at Rs.10 per Right to raise Rs.245.99 million. Meanwhile Janashakthi Insurance in a filling to Stock Exchange on January 20, 2011 said that the it had increased the ownership of Dunamis Capital to 21.32%.