Soilbuild Business Space REIT

[DP28]

Haha. agreed! good luck to 7th month listing. No buyers at all!

[KopiKat]

Opened @ 77ct, Vol = 46,052,000
Stabilising Manager has 'only' 56,307,000 Units to buy... Looks like won't be enough to last very long. Reminds me of Sabana IPO long ago...

Low $0.735, within 10mins.. Let's see if sponsor or funds come in to support..

[felixleong]

the IPO price is 78 cents right?
Heavy volume now at 73 cents
meaning down 5 cents for IPO punters
that's about 6% paper loss

Yeah kinda reminds me for sabana too

feel itchy to pick up some if the yield comes as much as 9% ^_^

[Greenrookie]

the IPO price is 78 cents right?
Heavy volume now at 73 cents
meaning down 5 cents for IPO punters
that's about 6% paper loss

Yeah kinda reminds me for sabana too

feel itchy to pick up some if the yield comes as much as 9% ^_^

Think soilbuild issues (potential or real) will only crop up after 2 years. I still have issues with their performance fees, and that the first refinancing will be 2 years away. But if yield gets real attractive in the near term, who is to say this is not a good buy. (10% in 2 years will be 20 % return)

[KopiKat]

the IPO price is 78 cents right?
Heavy volume now at 73 cents
meaning down 5 cents for IPO punters
that's about 6% paper loss

Yeah kinda reminds me for sabana too

feel itchy to pick up some if the yield comes as much as 9% ^_^

Think soilbuild issues (potential or real) will only crop up after 2 years. I still have issues with their performance fees, and that the first refinancing will be 2 years away. But if yield gets real attractive in the near term, who is to say this is not a good buy. (10% in 2 years will be 20 % return)

Using FY14 (IPO Forecast) DPU = 5.97ct,

Price Yield
0.725 8.23%
0.720 8.29%
0.715 8.35%
0.710 8.41%
0.705 8.47%
0.700 8.53% ; Sabana Yield
0.695 8.59%
0.690 8.65%
0.685 8.72%
0.680 8.78%
0.675 8.84%
0.670 8.91%
0.665 8.98%
0.660 9.05% ; felixleong
0.655 9.11%
0.650 9.18%
0.645 9.26%
0.640 9.33%
0.635 9.40%
0.630 9.48%
0.625 9.55%
0.620 9.63%
0.615 9.71%
0.610 9.79%
0.605 9.87%
0.600 9.95%
0.595 10.03% ; Greenrookie

Very unlikely to see both your target yield hitting today. If use FY13 Forecast DPU, need even lower prices. For now, the bottom seems to be $0.725, perhaps, current Sabana Yield of 8.5% @ $1.13 (yesterday's close) is providing a reference benchmark?

[momoeagle]

At queue at 70 cents...
Unlikely to reach it seems...

[felixleong]

yeah 70 cents for 8.5% yield would be very attractive indeed

[KopiKat]

Tikam a bit... worst case keep for long term for the yield and pray it don't drop by 8%+ per year. Sell before they start to earn exorbitant Performance Fees...
Seller CP : 08 (CS), 45 (BNP), 73 (Mcquarie). So many foreign brokerage... won't be surprised if shortists in action.

[kichialo]

Patience, give it a month and see.

[KopiKat]

Close @ $0.715 ; Open $0.77
Range $0.71 to $0.77
Vol = 137,487,000

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Patience, give it a month and see.

Testing my hypothesis... Looking at the huge volume and large price drop, my imagination,

1. Stabilising Mgr not in action now (maybe only for a while at open and decided to conserve their ammo when they see the huge sell Q), will act closer to 5pm or even during matching to bring prices up 1-2 bids
2. Shortists having free play now, but, some (esp. House Traders) will cover back later as it's Friday and they'd rather not live with uncertainty over the weekends

Nvm, just a small tikam. In the money now, likely take profit later if I can..

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Hypothesis failed.... Shortists must have covered earlier when it hit $0.73. Stabilising Mgr must have gone back early for the weekends...
Try new hypothesis next week... Hee..