Singapore Press Holdings (SPH)

From reading the postings of SPH REITS IPO, it seems most bloggers here are not in favour. Then how come Institutions's & HNWI's tranche has been oversubscribed 42 times? Hm........! Is it a trap or we are not as smart? Of course how can we be smarter?
i understand cornerstone investors who will be allotted 10% of the IPO have no lock in period. i think this may be one of the reasons why it is oversubscribed up to 42 times. Another reason is this is a "blue chip" REIT. i think we should be prepared for heavy trading on the 1st day of listing. i will tikam a bit on the IPO and may join in the trading.

My estimate on the impact of SPH REIT share price, assuming a 70% holding (over-allotment exercised) by SPH is,

For every 1ct change in SPH REIT share price, this equates to a $17.5Mil change in value or 1.1ct / share. Of course can be +ve / -ve, using IPO Price of $0.90 as a reference.

(24-07-2013, 03:13 PM)KopiKat Wrote: My estimate on the impact of SPH REIT share price, assuming a 70% holding (over-allotment exercised) by SPH is,

For every 1ct change in SPH REIT share price, this equates to a $17.5Mil change in value or 1.1ct / share. Of course can be +ve / -ve, using IPO Price of $0.90 as a reference.

Does the revaulation of financial assets get captured in the quarterly PnL? Or it is annually? What is used? 3 months price average, or price at a particular cut-off date?

(24-07-2013, 05:04 PM)Greenrookie Wrote: Does the revaulation of financial assets get captured in the quarterly PnL? Or it is annually? What is used? 3 months price average, or price at a particular cut-off date?

hmm given SPH owns 72% of SPH-REIT, the latter should be considered a subsidiary of the former and hence balance sheet is consolidated - the latter should not be considered as an asset-for-sale so price movements in SPH-REIT should not affect the b/s of SPH.

The only reval should be for the investment properties (since they are no longer valued @ cost) - this should be done annually i suppose?

$0.18 dividend coming in 10 days!

Just announced today:

Record Date * 05/08/2013
Record Time * 17:00
Date Paid/Payable (if applicable) 16/08/2013

(25-07-2013, 05:41 PM)nathanmaloney Wrote: $0.18 dividend coming in 10 days!

Just announced today:

Record Date * 05/08/2013
Record Time * 17:00
Date Paid/Payable (if applicable) 16/08/2013

What a pleasant surprise! I was expecting them to declare with the FY (Aug) results sometime in mid-Oct...

Interesting... it was announced at 12:30pm. Dropped 1ct for the day even... Looks like already factored into current price.. or no one noticed??

Yea I was surprised too about the "annoucement"

There wasn't even a CD sign next to the counter symbol.

So not that surprised about the lack of response. I don't think it's factored in yet - the dividend is still 4.17% at today's price.

That's a pretty decent yield for a 10 days time frame.

(25-07-2013, 05:59 PM)KopiKat Wrote:

(25-07-2013, 05:41 PM)nathanmaloney Wrote: $0.18 dividend coming in 10 days!

Just announced today:

Record Date * 05/08/2013
Record Time * 17:00
Date Paid/Payable (if applicable) 16/08/2013

What a pleasant surprise! I was expecting them to declare with the FY (Aug) results sometime in mid-Oct...

Interesting... it was announced at 12:30pm. Dropped 1ct for the day even... Looks like already factored into current price.. or no one noticed??

(25-07-2013, 06:22 PM)nathanmaloney Wrote: Yea I was surprised too about the "annoucement"

There wasn't even a CD sign next to the counter symbol.

So not that surprised about the lack of response. I don't think it's factored in yet - the dividend is still 4.17% at today's price.

That's a pretty decent yield for a 10 days time frame.

(25-07-2013, 05:59 PM)KopiKat Wrote:

(25-07-2013, 05:41 PM)nathanmaloney Wrote: $0.18 dividend coming in 10 days!

Just announced today:

Record Date * 05/08/2013
Record Time * 17:00
Date Paid/Payable (if applicable) 16/08/2013

What a pleasant surprise! I was expecting them to declare with the FY (Aug) results sometime in mid-Oct...

Interesting... it was announced at 12:30pm. Dropped 1ct for the day even... Looks like already factored into current price.. or no one noticed??

Opened @ $4.32...

We're both seeing a $100 bill on the pavement. It can't be real, cos' there're so many walking past it.... Nvm, I'm gonna look like a fool and pick it up...

PS. Added some more, worst case, hang aro' till mid-Oct when they announce FY (Aug). Possibly another ~17ct final if maintain same as last FY.. Good Luck!

I guess everybody's attention is now on SPH reits, instead of plain ol' SPH.

REIT frenzy has overshadowed the parent company.

Not really!
i have sold all my SPH. Some a bit too early. Some if i buy back now is still O. K. i am just monitoring now.