Shares & Derivatives
Ascott REIT and AsiaPhos Rights Issue – The Pauper and The Prince
By The Lepak Investor  •  July 18, 2017
My humble apologies dear readers, as I was really caught up with work till date. There wasn’t much time for me to put my thoughts onto “paper”, so finally here is my quick write-up of two counters – Ascott REIT and AsiaPhos. Two very different counters, two very different industries, but both have a common goal – raising cash. For Ascott REIT, the objective was to raise cash for an acquisition in Europe and one in Singapore. While it might be dilutive to existing unitholders, this was an opportune time for me to enter into Ascott REIT by way of the rights issue. In hindsight, it was quite a successful rights issue, as the unit price remained way above the theoretical ex-rights price, and I should have subscribed more. As always, the market behaves strangely sometimes, and this is no exception. Perhaps it’s because of the reputation of its Sponsor ......
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By The Lepak Investor
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