Sell @ $0.885. No more left. Finally get to sell at a small profit but my broker is going to make more than me on his commissions! Applied during IPO @ $0.88 with the intent to stag. But, if I'd been more rational, I wouldn't have touched this REIT as Yield is low (5.616% @ $0.885) and Gearing is high @ 39%. 😀
MCT @ $0.88
Subscribe for IPO @ $0.88. Got alloted for 1 account. Some thoughts before applying,
- For Office + Mall REIT, they are positioning themselves (Yield = 5.648% ; Gearing = 39%) between CMT (Yield = 4.889% @ $1.90 ; Gearing = 39.9%) and Suntec (Yield = 6.372% @ $1.52 ; Gearing = 38.4%).
- The Mapletree brand enjoys a premium in the Industrial REITs sector and therefore gives the lowest Yield (after A-REIT) for MLT and MIT.
- They are untested in the Office + Mall REIT sector but it looks like they are assuming they'll enjoy the same premium based on their IPO pricing.
- Thus, if the market price them in the same class as CMT, there may be a 10%+ upside. If they are priced in the same class as Suntec, then 10%+ downside!
- Their main dominant assets is VivoCity.
Some balloting data,
| Applied | Balloting Ratio |
Alloted |
| 1 – 9 | 35 : 50 | 1 |
| 10 – 19 | 36 : 50 | 3 |
| 20 – 49 | 37 : 50 | 6 |
| 50 – 99 | 38 : 50 | 12 |
Listing is on 27-Apr-11 2pm. See whether I can stag or not.