Category: IREIT Global

Sell @ $0.695

No more left… Am selling at a loss but becomes profitable due to the previous DPU = 2.2ct collected…

After the recent results (2H DPU = 3.03ct), I was wondering why I have a REIT with Gearing = 42.6% as I tend to avoid those >40% ones…. Had to re-read my own blog… It was meant to be a Special Situation Play during their Rights Issue and I got stuck… even went to the extent of buying Rights from the Open Mkt and subsequently, exercising them to sell… plus collecting one DPU… So much Time & Effort for so little Gain…   😀

Sell @ $0.675

Sell at a loss… again… A very tiny loss even after recent DPU collected… 😀

Sell @ $0.665

Cleared the ones I converted after buying rights from the mkt previously. Suffered a loss but become profitable if I were to add the DPU = 2.21ct collected. Q'd a long time to get done and it proceeded to hit a hi of @ $0.675… Q'd some more to sell, but not done… 😀

 

Buy @ $0.205

Add $0.468 (Exercise Price) => $0.673, still lower than the main share @ $0.68 (low today). The Rights hit a low of $0.20 today but I didn't get any as the Buy Q was huge. Tomorrow is the last Trading Day for the Rights…. Worst case, there may be a sell-down due to investors who don't want to exercise… Prepare some spare cash first… just in case… 😀

Buy @ $0.695, $0.69

Happily buying at lower prices to add to my initial buy till a msg fm SL made me realised that IREIT Rights have started trading… (Fm SL) At $0.21, this presents a good arbitrage opportunity with main shares at $0.69 & Exercise Price $0.468

ie $0.21 (Rights) + $0.468 (Exercise Price) = $0.678 is < $0.69 (IREIT)

But, will need to sell IREIT & simultaneously buy Rights ie Need to already hv IREIT shares to sell… and either hv no min $25 comms or trade in large enough Qty (such that $25 min comms is insignificant in % terms)….

The Rights will trade till 22-Jul (Wed), having started trading from 13-Jul!

I quickly did a Buy @ $0.21 for IREIT Rights…. and is prepared to exercise if I don't get the opportunity to sell… 😀

Buy @ $0.70

Add back to my portfolio as it hit my target TERP Buy Price again… A sudden sell block of aro' 100,000 shares appeared towards the end of the day.. Grab some first, regret later (if any)… 😀

Sell @ $0.71

Contra off, no more again… Too tempting as it also increase my free cash + one fewer stock in portfolio… Note that Rights Issue 45-for-100 @ $0.468 closes on 28-Jul, but already xri … 😀

Buy @ $0.70

Partially done after Q'ing whole day. Add back to my portfolio as it hit my target TERP price… 😀

Sell @ $0.81

Suddenly saw my Qty in Buy Q at this higher price on my way for lunch…. Couldn't resist the temptation for a quick profit… Not forgetting the high Yield of ~9% (Proforma Rights) comes with an increased Gearing = 43.7%. Very similar to VIT (Yield = 9.48% ; Gearing = 43.4%), which conincidentally (?) also has Mr Tong JinQuan (Wealthy Fountain / Shanghai Summitt) having a controlling stake of >50%.

Last day cri on 3-Jul. TERP = $0.704 @ $0.81 on Monday (6-Jul)… Target to buy only if it drops beow $0.70…. 😀

Buy @ $0.785

Hit a low of $0.78 but by the time I reacted, only partially done at $0.785… Closed @ $0.795, high @ $0.80. Was contemplatimg whether to contra off both days' buys but there were not enough in the Buy Q… 😀