Author: Mr. IPO

Goal no. 8 – A great way to fly . . . met

At the start of the year, i set a new goal no. 8, to earn 200,000 miles from work or credit card spending . . . , well i have to say that i have more success on that front 😆 than investing my SRS portfolio.  My crazy travel schedule resumed in June and July, coupled with my credit card spending, allowed me to hit the goal quite easily. A bigger challenge is finding the time to spend the miles as i don’t see any “down time” coming up. In fact, i am going to get busier from Sep...

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Prime US REIT – Balloting Results

Prime US REIT announced that it has allocated 40,909,000 Units for the retail offering versus the 16,761,000 units disclosed in the prospectus. The balloting table is as presented above, where everyone who applied received a very “meaningful” number. Those who applied below 99,900 units received full allocation and only those who applied above 100,000 received a partial cut back. In any event, i think everyone got more than what they “bargained for”, didn’t expecting the bookrunners to increase the amount for retail offering by “re-allocating” from the placement tranche.  It is funny why Prime US REIT never announced the...

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Prime US REIT

Prime US REIT (“Prime” or “the REIT”) is offering 335,203,200 units in its IPO at US$0.88 each (or S$1.20 per unit). The placement tranche of 318m and public offering of 16.761m units will be held concurrently. The offer will close on 15 July 2019 at 12pm and IPO proceeds will be used to fund the acquisition of the properties.Prime US REIT comprise investors exposure to a portfolio of prime Class A Office Properties across the United States. The objective is to achieve long-term growth in DPU (distributions per unit) and NAV (net asset value). Prime US REIT is the...

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Happy 12th Anniversary

Today is 7 of July 2019 – 07.07.2019. A whole 12 years has passed. My first post was horrible 😫 and my last anniversary post was here!I started this blog with a very simple intent, to blog about why i decided to punt an IPO or not and this blog has actually grown to have a life of its own 🎉  It ‘s really quite heartening to see the readership base growing to 7,154  albeit the growth has slowed to a single digit 4% in 2019. 🤕  I will need to find some ways to improve 🆙 the growth rate again.  The poor growth...

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SRS Portfolio – 30 June 2019

How time flies and we are now 6 months into 2019 . . . let’s do a quick update on my journey to financial … “debt”. Well, I have acted upon the plan and the “result” is below. Here is the step by step guide for those who are interested.  Step 1 – Draw down the excess home equity as new mortgage loan. The amount you can draw down will depend on how much you have paid down the mortgage and whether the property has increased in market value over time. In my case, i have been fortunate on...

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Astrea V – Balloting Results

Astrea V announced its balloting results today. Unlike equity, the bonds will only start trading on this Friday, 21 June 2019.  As stated in their press release, all applications below $50k received some allocation and 75% of the $180m shares went to them, “reflecting the Issuer’s desire to allocate to smaller retail investors“. I am pleasantly surprised at the 50% chance of being allocated a meaningful amount. To apply $50,000 and have a 50% chance of receiving $16,000 worth of bonds is definitely not a bad outcome. Those who applied for $1m shares now receives $50,000 rather than $11,000....

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Astrea V Class A-1 PE Bonds

Astrea V is offering 3 classes of bonds of which S$180m of the Class A-1 Bonds (“the Bonds”) are available to retail investors. The public offer will end on 18 June 2019 at 12 noon. The remaining $135m Class A-1, US$230m Class A-2 and US$140m Class B Bonds were already fully placed out through a placement tranche. Details of the 3 different classes of bonds are summarised below: Key points to note about the Class A-1 Bonds: Interest rate of 3.85% per annum Interest is payable every 6 months on 20 June and 20 Dec each year The Bonds...

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SRS Portfolio Update – 5 June 2019

Time really flies and 6 months have flew by. May and June are probably the busiest month for me where I had to fly for a bit. This is a picture of one of my trips taken from the plane…  The only “upside” from these business trips is that i get to accumulate the KF miles for my holidays. It is funny that when the kids are very young, your wife would complain and don’t want you to be away for too long. Now that I get older, the wife and kids  probably don’t mind half as much . . .  😀 ...

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Alliance Healthcare Group Limited

This will be a quick report as I am traveling for work this week. I am not going to spend too much time given the small public offering.  Alliance Healthcare Group Limited (“Alliance” or “AHG”) is offering 32m shares at S$0.20 each for its IPO on Catalist – for which 31m shares will be through the placement tranche and the balance 1m through the public offer. The offer will close on 29 May at 12pm and starts trading on 31 May 2019 at 9am. The market cap based on 207.888m shares is around S$41.6m Principal Business The Company is...

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Five things you want to know about the upcoming Astrea V PE Bonds

I believe there will be a lot of interest for the upcoming Astrea V Class A-1 PE Bond looking at how oversubscribed it was in Astrea IV (7.4x).  I will do a “sneak” preview first before I do a more detailed analysis when the public offering starts since some of you may be keen to get your hands on the placement tranche.  Here are 5 things that you may want to know about the offering.  1. Interest rate (Pricing) for the bonds will be determined by a book building process I think this is the question on everyone’s mind....

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SRS Portfolio Update – May 2019

This will be a quick update on the transactions. Since my last post, I added a new position in my SRS Portfolio – 30,000 of Suntec REIT at $1.80 last week. Suntec REIT has been sold down in recent week due to a placement exercise and at $1.80, it is trading below its book value and the yield is around 5.5%. The 30,000 shares will add around $3,000 in passive income annually. However, for the non SRS portfolio, I sold off my position in Keppel KBS REIT at 73 to raise USD for some USD bonds that I am...

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Eagle Hospitality Trust

Eagle Hospitality Trust (“EHT” or the “Trust”) is offering 580,558,000 Stapled Securities at 78 US cents, of which 44,871,000 units will be via the Public Offer with the balance already distributed through the Placement Tranche. Investors applying through the ATM will be paying based on the exchange rate of USD/SGD of S$1.3731. The IPO will close on 22 May at 12 noon and start trading at 2pm on 24 May.Principal Business EHT is established to invest in income producing real estate used primarily for hospitality-related purposes with initial focus in the United States.  Key Investment Highlights Initial Portfolio The initial...

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ARA US Hospitality Trust – Balloting Results

ARA US Hospitality Trust announced that is IPO tranche is “fully subscribed” at 1.1x and UOB is over-alloted 22.727m units for “market stabilisation”. The balloting table for the public offer is below and all valid applicants applied received some allocation. Mr Lee Jin Yong (李镇镕), Chief Executive Officer of the Managers, said, “The support we’ve received from both institutional and retail investors really encouragesus. We now forge ahead, embarking on a new chapter for the Trust. We will diligently focus on organic growth opportunities through active asset management andthoughtfully expand the portfolio through accretive investments, always keeping a clear...

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ARA US Hospitality Trust

ARA US Hospitality Trust (“ARAHT” or the Trust”) is offering 379,776,300 Stapled Securities at US$0.88 each. The placement tranche of 328.6m excludes the Cornerstone Investors and the public offer consists of 51.136m units. Based on the IPO price, the market cap will be US$749.1m.  The IPO will close on 7 May 2019 at 12pm and starts trading on 9 May 2019 at 2pm.Successful applicants applying through the ATM will pay for the shares based on USD:SGD rate of 1:1.3668. There is also an over-allotment option of up to 6% or 22.7m units to help stabilise the share price.  The...

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Trade or Invest ?

Last week I wrote an article on Portfolio Construction – Bonds or Stocks where i wrote that instead of using REITs and Stocks, the bulk of my portfolio to create passive income built up over the last few years had been using bonds. At this stage of my life, I wanted to build a substantial portfolio that has lower volatility, more certainty of cash flow and somewhat better risk-adjusted returns. I was also able to borrow against the investment grade bonds to juice up the returns to ~8%. The previous time I wrote another article on credit card –...

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