Alloted @ $0.88
Got some fm IPO. Tried to buy more today when it got listed at 2pm, but was unsuccessful. Range $0.88 – $0.905 ; Vol = 7,471,000.
At IPO = $0.88,
- Yield = 7.6% (FY13) ; 8% (FY14 FY15)
- Gearing = 33.2%
- NAV = $0.78
- Major Shareholders : Shanghai Summitt 60% ; Mr Lim (SoilBuild boss) 19%
- Assets : Office Buildings (Germany)
It seems too good to be true! Assets in a 1st world economy with not too high leverage and High Yield. On top of that, Free Float is low as Issue Size is not huge and 2 Major Shareholders account for 79%. So, what's the catch??