Author: Mr. IPO

Mid Autumn U.S. Open SRS Portfolio

I was traveling to US two weeks back when i read a weekend article on the Business Times on the “risk of cash”.  The simple concept is presented in the chart below.  How to double the money you have now ? Assume you have $100,000 now and you invest in a portfolio that gives you an annualised return of 7.2%. In 10 years time, you will have $200,000.  However, if you decide to invest only 20% of the cash and keep 80% of the cash for rainy days, then you will need that portfolio to make an annualised return...

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SRS Portfolio – 31 Aug 2019

Bond portfolio – finally some “luck” ? Following up on my post last week, I wasn’t successful on SPH REIT perps. Reason given was that  my application amount was “too low” 😤.  I decided to “blow up” my application to $2m when UBS SGD AT1 perps was released. You can read about the bond by Fundsupermart here.  The final interest rate for the 5Y non call perps was priced at 4.8% and I was finally allotted $250,000.  I haven’t decided if I should fund this purchase with more debt or with cash. If it is debt, whether to fund...

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Sir Alex SRS portfolio – 25 Aug 2019

I was in Manchester and paid “homage” to Old Trafford. It is a club with rich history and heritage but unfortunately the fortunes declined upon the retirement of her most successful manager – Sir Alex Ferguson. To celebrate a 100 year of history is no easy feat and I was a fan of Alex Ferguson. The gold era also ties in with a great manager and before Sir Alex, was Sir Matts Busby. The stadium went through many phases of refurbishment and reconstruction and I was surprised to learn that, other than Wembley and among British ️ clubs, Old...

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SRS Portfolio – Happy National Day

Happy 54th Birthday to Singapore! How our country “retire early” from a 3rd world country into a world class city is a lesson for all of us who pursue financial freedom! 1. Invest in education Our government under the late PM Lee invested a lot in education, firmly believing that education is the fastest way out of poverty for its citizens. Even China is pursuing this strategy to become a superpower nation through education (see propaganda pic below) Similarly, in your pursuit for financial freedom, you have to first invest in your own financial education. A degree is probably...

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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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