Buy @ $0.795
A new addition to my portfolio. The only time I'd held IREIT was from IPO allotment but I sold off as Euro Exchange Rate dropped from $1.70 to $1.5x.
This AM, before mkt opened, there was an SGX Annc on a proposed acquisition to be funded by Debts & 45-for-100 Rights @ $0.468. Proforma figures projected an increase in Yield by ~1%, but mainly due to an increase in Gearing from 31.8% to 43.7%. Last day cri is 3-Jul-15.
The key risk is still on Exchange Rate as GREXIT is now a very high probability. Their assets, being in Germany, a stronger economy, do provide some level of comfort. For now, with EU QE, interest rate will remain low for a few more years, altho' for the proposed acquisition, Interest Rate is fixed for 10yrs and is not a key concern.