Category: SB REIT

Sell @ $0.725

Contra off to take profit as my free cash is being used up very fast..

Suddenly saw a huge Buy Q @ $0.725 at 4pm+, after hovering at $0.715 for almost the whole day. Just before 5pm, a huge seller apppeared and almost cleared the whole Buy Q!. Mine was only done during 5pm matching. My guess is either Stabilising Mgr or Schroder doing the buying, let's wait to see if there's any SGX Annc… 😀

 

Update

Stabilising Mgr buy @ $0.725 for 2.5mil units

Buy @ $0.715

Buy some back. Stabilising will be likely ending this Friday, although there'd been no action for a long while now. Just checked SGX Annc that the rise to $0.725 was likely due to Schroder buying. Can keep long term as 8%+ yield, but will sell on any opportunity as market may still be volatile. 😀

Sell @ $0.725

Prices had been rather stable at this range even though there'd been no Stabilising actions. Decided to take profits for all my profitable ones as market remains volatile. Will likely buy back if it drops. 😀

Buy @ $0.71

Got it lower during 5pm matching when sellers appeared. No more buying from Mr Lim (major shareholder) but also no shorts for 2 days. 😀

Looking at it rationally, Yield = 8.21% ; Gearing = 29.9% ; NAV = $0.80, it does look rather attractive for longer term hold. The main minus are it's newly listed (no track record), non-pedigreed sponsor (not TLC, GLC or Blue-Chip linked) & Industrial REIT (first to be hit in downturns are usually factory closure).

Will likely get more if it drops. But, may be tempted to take profit from $0.825 to preserve cash…

Buy @ $0.715

Jump-Q during preopen. I wanted to bring down my break-even from $0.73 to $0.725 as it'd give me an option to take profit at a lower price, if required. 😀

Open = $0.715 ; Close = $0.73 ; Range = $0.71 to $0.735 ; Vol = 37,721,000

The surprise for today was the SGX Annc that Mr Lim (Major Shareholder) has bought 20Mil Units @ $0.73 in the open market! This brings his holdings from 19.992% to 22.481%. In addition, there's a 7% which he'd lent to the Underwriter cum Stabilising Manager. If prices remain below IPO price, the Stabilising Manager would be able to buy back and return the entire 7% to Mr Lim.

The question I'm pondering is whether Mr Lim will be required to make a Mandatory General Offer if he crosses over the 30% level. If so, either he'll need to get a waiver from SGX (not to make this offer) or that'll limit how much more he'll buy from the open market as 22.481% + 7% = 29.481% ie. only 0.519% (4,103 lots) left … Let's follow the SGX Annc closely to help us decide on the next course of action.

 

Buy @ $0.725, $0.715

New listing from 2pm. IPO price @ $0.78 but didn't apply as free float (Sponsor 27% + No Cornerstones) is too high and coupled with an unknown sponsor, was expecting price to open weak. It opened at $0.77 and within 10mins, dropped to $0.735! Closed @ $0.715, Stabilising Mgr used up 25Mil (of 56Mil+)  at $0.76-$0.77.

Prices may continue to be weak and will trade on opportunity. Will hold for longer term as Yield = 8.15% @ $0.715. 🙂