Buy @ $4.32
The big surprise yesterday was, in a tiny SGX Annc at 12:30pm on Book Closure, this was actually for the 18ct Special Dividend that was promised and previously approved in an EGM, tied to the successful IPO of SPH REIT. If not for someone posting in VB, I'd have also missed that… I was expecting this Special Dividend to be declared together with the FY (Aug) results. SPH share price even closed -2ct @ $4.30!
It seems very surprising to me that the market had not reacted to the Special Dividend announcement. Either it's already been factored into the share price or there's a chance that they have missed it! Possible? Market is supposed to be efficient… especially for index stocks which ought to be very well monitored by all..
I'm betting that market may have missed it. When it opened at $4.32, +2ct, I decided to add more to my holdings. After a few hours, I gave up monitoring as it even touched a low of $4.31…. The pleasant surprise in the afternoon was seeing it hit a high of $4.37 and closing at $4.35. I'm hoping it'll move towards $4.4x as it approaches xd. But, not so important as I'll likely hold till FY (Aug) which is expected to be announced in mid-Oct. Anything above $4.5x, I'll consider to sell… 😀