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AIMS AMP Capital Industrial REIT: Results of rights issue.

Tuesday, October 12, 2010

Valid acceptances:
506,083,252 units (98.6 % of Rights Issue).

Excess applications:
163,926,201 units (31.9 % of Rights Issue).

"The balance of 7,226,529 Rights Units which were not validly accepted, will be allotted to satisfy excess applications. In such allotment, preference will be given to the rounding of odd lots (if any) while directors of the Manager (the “Directors”) and Substantial Unitholders1 will rank last in priority.

"Successful subscribers with The Central Depository (Pte) Limited (“CDP”, and the securities accounts with the CDP, the “Securities Accounts”), will be sent, on or about 15 October 2010, a notification letter from CDP stating the number of Rights Units that have been credited to their respective Securities Accounts."  
Read announcement here.

It seems that people who applied for massive numbers of excess rights would be disappointed, myself included.

Related post:
AIMS AMP Capital Industrial REIT: Rights issue.


Anonymous said...

In plain English: If I understand correctly. The allotment results are out, by %. Only on the 15/10 that we will know if our excess application are successful. Is this correct ?

A quick check with my broker today. Many sell orders @ 23cents and some @ 24cents. Many buy orders at 21.5 cents & 22 cents


AK71 said...

Hi SnOOpy88,

Yes, we will know on the 15th how many rights we have been alloted: entitled + excess. Look out for a mailer from CDP. :)

More are interested in this REIT now. It was a clear buy since late last year after MI-REIT was "rescued" and I blogged about it. However, its past continued to haunt it.

It would seem like the ghosts of its past have been exorcised. ;)

Raelynn said...

although there aren't that many excess rights to go around, but chances are that you'll get something. i only applied for 5000, i'll be laughing if i even get 500 units.

AK, i've been troubled for a very long time, are blue chips (as in STI Components) worth their salt? do blue chip investors undergo capital appreciation?

AK71 said...

Hi Raelynn,

If you have odd lots, your chances of getting some excess rights is higher. :)

Are blue chips worth their salt? I believe that all investments are worthwhile at the right price. You have to decide if they are worth their salt after doing the required FA.

If they are trading below their intrinsic value, you have a bargain. Otherwise, you might want to sell. ;)

Of course, I would use TA to help me find fair entry and exit points on top of doing FA. TA is a window to the psychology of market participants. :)

Anonymous said...

Results are out in CDP A/C.

I got only 17% of excess over my rights. Good start for me.
Wonder what will be the pricing direction now, given that some of us had got shares at $0.155 ?

Huat ah...


AK71 said...

Hi SnOOpy88,

Congratulations! :)

I am waiting to collect more at 21.5c if anyone is willing to sell to me. ;)


Hi Raelynn, timing is of the essence. It depends which stage of the cycle you purchased the stock. Different sectors perform differently in the different stages..but the market can remain irrational for long periods of time.

Yv said...

Hi AK,

This is a silly question from a noob. I understand that if I were to invest in shares/reits bought under brokerages such as FSM, these would be held in a custodian account with them. The implication is that I would not be entitled to the rights of a legal shareholder.
Does it mean that I would not have a say down the road e.g. in a rights issuance etc? I have a FSM account opened many years ago but have not used them to invest in anything, and I am just wondering if I should use FSM as a platform to invest in reits/ blue chips and what is the implications if any?

AK71 said...

Hi Yv,

The only good reason I can think of to use such brokerages is not having a minimum brokerage fee.

So, it is good for people who are starting out young to make small transactions and if they trade a lot, they really do save a ton on fees.

For the rest of us, I don't see any point in having such brokerage accounts and having our stocks held in custody.

Still, if there should be a rights issue, the broker should inform you so that you can participate through the brokerage.

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