Sold @ $12.50. Bank shares have risen a lot after the govt announcement on relaxation of property financing. Since 8-Jul,
- DBS +1.60
- OCBC +1.10
- UOB +0.70
I think it’s better to sell 1st as the prices are too fwd looking. My OCBC was converted from OCBC Rights, which I bought cos’ of a very small arbitrage in price. Original tgt to sell was $11.80~$12.00 for a $0.30~$0.50 gross profit but fortunately, due to the long time taken by OCBC to process the subscription, the price has exceeded my tgt 😀
Saw a report fm CitiGroup after selling. Their tgt price for DBS ($15.75), UOB (15.00) and OCBC ($13.35). Now, DBS ($15.80), UOB ($14.90) and OCBC ($12.50). Thus, only OCBC still have room to go up!