What a different feeling.
Yesterday I felt sad and frustrated that I got zero allocation for the Manulife US Reit IPO units.
Today I feel relief that I got zero allocation for the Manulife US Reit IPO units.
It was surprising to me that Manulife US Reit opened trading at USD 0.82, even below its IPO price of USD 0.83. It ends the day at USD 0.79, 4.8% lower than its IPO price. Well, I think the market has spoken that the Reit was priced too high.
Surprising on Manulife US Reit’s performance as today is a green day for the STI index. Also, not too bad on my Reit counters too as only Fraser Comm Trust declined today.
I may pick up some Manulife US Reit if it falls to a more appetizing level. No hurry as I think the first dividend …