First REIT Excess Rights Results: I got 2750 excess rights! cash wad

Folks following this blog would know that I applied for First REIT 5 for 4 rights issue.

In addition to that I Applied for 20000 excess rights, paying SGD10,000 for this.

Today on the 31st Dec 2010 is the trading day for all these rights and a check on my CDP account shows that I got some excess rights!

It’s a welcome surprise because, First REITs is strongly held I feel and not likely to have so much excess rights.

My previous experience with Sing Investment was disappointing.

Anyway, the 5 for 4 rights issue left me with 250 shares of odd First REIT stock.

But a check of my CDP account shows that they have given me a total of 2750 more shares. So 2750/20000 = 13.5% allocation.

Why is Excess Rights a big deal?

For those not familiar with excess rights, it is basically a lottery to …