Sell @ $0.395
Reduced my stake to raise cash for buying Neratel.
Q4 Results on 13-Feb with DPU = 0.56ct, down from Q3 = 0.87ct (-35.6%). Main culprits were,
- INR weakened by >5%
- Dilution due to 11% New Shares Issued
- Increased Financing Expenses (New Bonds Issue to retire an expiring one)
Other possible culprits would be increased mgmt fees…
DPU will very likely recover some for next couple of Qs but will stay weak unless INR strengthen and / or they do accretive acquisitions.
Coupled with the economic and political (Presidential Elections) risks, I have decided to realise quite a substantial loss and channel the funds to other stocks…