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I checked my CDP account this morning and found that my excess rights application for IREIT Global was fully filled.
A pleasant surprise!
So, no refund.
That meant no fresh funds for my T-bill application.
Simply recycling money from matured T-bill into the new one.
My enlarged investment in IREIT Global should continue to generate meaningful income for me.
If you are interested in finding out why I emptied my war chest to back IREIT Global's recent rights issue, read the following blog.
Ignoring one and buying another.
If you are interested in other readers' experience with the rights issue, read the comments sections of the following blogs too.
IREIT's rights issue 134.7% subscribed.
As for the latest 6 months T-bill auction results, not too bad.
The cut-off yield is 3.85% per annum.
Still don't understand why some people are bidding below 2% per annum which we can gather from an average yield of 2.88% per annum in the auction results.
I stop face palming liao.
Give up.
My non-competitive bid was 100% filled, fortunately.
Waiting for the next 6 months T-bill as I keep my T-bill ladder intact.
Next auction happening on 3 August.
That's all for this update.
If AK can do it, so can you!
Reference:
T-bill ladder is still attractive.
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16 comments:
Hi AK,
Hope you and your family are well.
I saw your interview with Fifth investor on youtube during lunch, it was entertaining, informative and i did have a few laughs over the 30 plus minutes.
Back to the topic regarding the rights issue of ireits. I was allocated 100% on the excess rights as well which i am not complaining about. I am rather surprised though.
According to the business times article:
IReit Global has received a total of 250.7 million valid acceptances and excess applications, or 134.7 per cent of the total number of preferential offering units available, at the close of its offering on Jul 11. Valid acceptances came to 77.3 per cent.
In a bourse filing on Thursday (Jul 13), the manager said that it received valid acceptances of 143.9 million new units and excess applications of 106.9 million units. A total of about 186.1 million preferential offering units will be issued to raise gross proceeds of S$75.9 million.
The excess applications totalled 57.4 per cent of the amount on offer. The balance of 42.2 million preferential offering units that were not validly accepted will be allotted to satisfy excess applications.
If the excess applications was higher than the number of not validly accepted units, i wonder why we were able to get 100% allocated on them.
Any idea how the allocation works? isnt it allocated evenly to all the excess applicants meaning we should all not get fully allocation? Or is it via lucky draw format where our allocation depends on pure luck?
Thank you for enlightening me always.
Hi nch,
From what I know, some IREIT investors got all their excess rights while some got nothing.
I also don't know how the manager allocated the excess rights.
From past experience, I know that allocation of excess rights might not be proportional.
Some investors get a larger percentage of their excess rights applications filled than others.
I remember a REIT that favored larger investors while another favored smaller investors.
There isn't any fixed formula.
Hi AK
There is a GXS digital bank which is offering 3.48% PA interest and paying out interest daily.
It seems that the on top of the interest there is a compounding effect from the daily payout.
Any advise for GXS banking system ?
Hi Ck,
Many years ago, we had so many banks and LKY said too many small banks was not good.
So, consolidated into just 3 big banks.
Now, government says more digital banks good.
Small banks are back.
I blur.
Too lazy to open new bank accounts and I don't have so much cash on hand anyway for 3.48% p.a. to make a big difference.
Anyway, I am getting 5% p.a. from UOB ONE. ;p
Hi AK, I guess just like the telcos, the government probably wants to shake up the banking sector a bit.
Btw the youtube video with the fifth investor was entertaining! Perhaps you could consider doing youtube recording using your own voice instead of the robotic youtube voice we hear for your other videos. Just a suggestion =)
Hi Rellangis,
My late grandmother would say "eat too full". ;p
If something is not broken, why fix it?
Just saying.
AK is not clever like our ministers.
I still don't like the sound of my recorded voice but I did that podcast because it was an invitation from a good friend.
Glad you found the podcast entertaining. :D
We should all treat social media influencers as entertainers. ;)
Hi AK, can you tell me the quantum, total amount of money $, you have invested in order to achieve the $200,000 dividend that you have received now?
Hi
I watched the Fifth Person podcast interview with you, potato chips in hand. Very funny, entertaining and illuminating, just like the recent AK with Friends session.
Hope to "see you" more often on air.
I also managed to get full allotment of excess rights using my nominee account, although i must admit I did not apply for a lot.
Hi peterhtseow,
I have never shared such information although readers who have been following my blogs would have a pretty good idea.
If you would like an estimate, you might want to refer to my largest investments update in January this year.
See:
Largest investments updated.
Hi Yv,
Alamak, I shy lah.
Don't like the sound of my recorded voice but Kenji asked me and I couldn't say no to a good friend.
Glad you liked the podcast. :)
AK, hwo much excess did you apply ah?
My guess is $3.5 million. Tio boh ?
Hi fc,
I applied for roughly the same amount as what I was entitled to. ;)
Hi Henry,
I thought Big Sweep Top Prize is $2.3m?
Did they increase to $3.5m?
I blur. O_o
Today's weather very nice hor? ;p
Lol. Thanks for your reply. :)
Hi Henry,
A pleasure!
I like talking about lottery and the weather anytime. ;p
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