Indiabulls Properties Investment Trust

[Nick]

IPIT has just released its 2Q result and declared its maiden dividend of 0.0131 SG cents per unit. This works out to an annualized yield of 0.25% !

http://info.sgx.com/webcoranncatth.nsf/V...C00535AE1/$file/IPIT_Q22013_Results_Announcement.pdf?openelement [Results]

(Not Vested)

[yeokiwi]

Wow... So exciting. Suddenly, the cimb FD looks attractive.

[KopiKat]

They must be the first and only Trust so far who'd not delivered on the DPUs projected in their IPO prospectus. From my records, DPU forecast,

FY09 = 5.12ct (incl. Sponsor Waiver and for the period Jun-08 to Mar-09)
FY10 = 9.82ct

Funny... no penalty from SGX? If so, the risk for IPO investors seems extraordinarily high....

[Nick]

They must be the first and only Trust so far who'd not delivered on the DPUs projected in their IPO prospectus. From my records, DPU forecast,

FY09 = 5.12ct (incl. Sponsor Waiver and for the period Jun-08 to Mar-09)
FY10 = 9.82ct

Funny... no penalty from SGX? If so, the risk for IPO investors seems extraordinarily high....

Don't think so. No IPO has every legally bound the Trust to meet the forecast dividend.

IPO Prospectus:

None of IPIT, the Trustee-Manager, the Sponsor, the Joint Issue Managers, Financial Advisers, Bookrunners and Underwriters, or the Coordinator of the Public Offer guarantees the performance of IPIT, the repayment of capital or the payment of any distributions, or any particular return on the Common Units. The forecast and projected yields stated in the following table are calculated based on the Maximum and Minimum Offering Price and the assumption that the Listing Date is 1 April 2008. Such yields will vary accordingly if the Listing Date is after 1 April 2008 and in relation to investors who purchase Units in the secondary market at a market price that differs from the Maximum and Minimum Offering Price.

[lonewolf]

IPIT has just released its 2Q result and declared its maiden dividend of 0.0131 SG cents per unit. This works out to an annualized yield of 0.25% !

I think they got tired of being the whipped endlessly about being the only trust on SGX with no distributions declared.

With this distribution, Indiabulls has moved from one record (only trust with no distribution) to another - lowest ever distribution declared.

IIRC, the lowest I remembered was the 1-day distribution declared by Cache for 0.042 cents per unit for the period from 30 March 2012 to 31 March 2012.

This also means that CLT distributes more in 1 day than Indiabulls in one whole quarter! Amazing!!

[cyclone]

Voluntary Unconditional Cash Offer Announcement

BRENFORMEXA LIMITED, an indirect wholly-owned subsidiary of INDIABULLS REAL ESTATE LIMITED, to acquire all of the issued units in INDIABULLS PROPERTIES INVESTMENT TRUST

The price for each Offer Unit will be S$0.90 in cash.

The Offer Price represents the following premia over the historical traded prices of the Units:
* 252.9% premium over Last traded price of the Units on the Last Trading Day (0.2550) 
* 259.7% premium over VWAP for the one-month period up to and including the Last Trading Day (0.2502)
* 285.3% premium over VWAP for the 12-month period up to and including the Last Trading Day (0.2336)
Last traded price is as of 21 June 2016, being the Last Trading Day. 

More details in http://infopub.sgx.com/FileOpen/Offer%20...eID=473862  

I wonder it is a discount or premium to the IPO price ?

[kbl]

Voluntary Unconditional Cash Offer Announcement

BRENFORMEXA LIMITED, an indirect wholly-owned subsidiary of INDIABULLS REAL ESTATE LIMITED, to acquire all of the issued units in INDIABULLS PROPERTIES INVESTMENT TRUST

The price for each Offer Unit will be S$0.90 in cash.

The Offer Price represents the following premia over the historical traded prices of the Units:
* 252.9% premium over Last traded price of the Units on the Last Trading Day (0.2550) 
* 259.7% premium over VWAP for the one-month period up to and including the Last Trading Day (0.2502)
* 285.3% premium over VWAP for the 12-month period up to and including the Last Trading Day (0.2336)
Last traded price is as of 21 June 2016, being the Last Trading Day. 

More details in http://infopub.sgx.com/FileOpen/Offer%20...eID=473862  

I wonder it is a discount or premium to the IPO price ?

Good afternoon Cyclone san and All.

IPO $1.00 sir.

Not Vested

DJ MARKET TALK: Two Singapore Listings This Week May Struggle

0327 GMT [Dow Jones] Shares of two companies due to start trading on SGX this week may struggle on their debut if market fails to shrug off its sluggish tone. Sino Construction (F3V.SG) makes debut Thursday, offering 152.7 million shares at S$0.39 each, with no price heard yet in gray market. Indiabulls Properties Investment Trust (F3EU.SG), which lists Wednesday, priced IPO of 262.5 million units at S$1.00 each, at lower end of S$1.00-S$1.10 indicative range, after extending retail offer deadline by a day to June 6. "They are not getting good response. I get the funny feeling that some of the underwriters are desperately trying to get the head counts. They're even approaching small stockbroking houses (to place out the shares). That's an indication of the market," says foreign house dealer. STI off 2.3%, FTSE ST All Share Index down 2.3%. (FKH)

[yeokiwi]

There was a 5 to 1 share consolidation in 2015 and one right issue in 2009.

More like IndiaBear.

[Debronic]

Yep. It was one of the most tragic Reit/trust IPOs. Tragic because it listed just after the height of the 2008 bull market (maybe that's why the name is appropriate!) and promptly fell from 90+cts to less than 20cts in a few months when the STI also halved. Don't think it has recovered much since then.