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On 29 Dec, I blogged about how First REIT's rights issue was a resounding success. From the comments and emails so far, it seems that First REIT favours smaller investors for this rights issue.
See comments in the blog post here.
I have arrived at the following hypothesis based on the data collected so far:
1. Entitled rights: 5,000 to 8,750,
excess rights allotted: 1,000.
2. Entitled rights: 10,000 to 38,750,
excess rights allotted: 2,000.
3. Entitled rights: 40,000 to 98,750,
excess rights allotted: 3,000.
4. Entitled rights: 100,000 to ???,???,
excess rights allotted: 4,000.
I don't have data for entitled rights below 5,000 and beyond 100,000.
Of course, holders of odd lots would have the advantage of rounding up odd lots, be it 250, 500 or 750 units. These would add to the excess rights allotted.
I welcome more comments and feedback on whether my hypothesis is correct. Congratulations to fellow First REIT unitholders successful in getting excess rights.
SINGAPORE : Singapore's healthcare real estate investment trust First REIT on Friday said it has completed the acquisition of two Jakarta hospitals.
The two new Indonesian healthcare properties include the Mochtar Riady Comprehensive Cancer Centre as well as Siloam Hospitals Lippo Cikarang, a six-storey hospital that began operations in 2002.
With these acquisitions, First REIT said it has crossed a significant milestone as its assets under management have almost doubled to S$612.8 million as at December 31.
The trust's manager revealed that it aims to achieve a portfolio size of S$1 billion in two to three years...
The two new Indonesian healthcare properties include the Mochtar Riady Comprehensive Cancer Centre as well as Siloam Hospitals Lippo Cikarang, a six-storey hospital that began operations in 2002.
With these acquisitions, First REIT said it has crossed a significant milestone as its assets under management have almost doubled to S$612.8 million as at December 31.
The trust's manager revealed that it aims to achieve a portfolio size of S$1 billion in two to three years...
...Meanwhile, the manager of First REIT revealed that based on projection year 2011, the trust's gearing level will stand at about 17 per cent, which is significantly lower than the regulatory limit of 35 per cent.
The manager of the trust added that this will provide it with sufficient headroom for future accretive acquisitions, and it will continue to look out for other healthcare-related assets in Asia to further raise its asset base.
The manager of the trust added that this will provide it with sufficient headroom for future accretive acquisitions, and it will continue to look out for other healthcare-related assets in Asia to further raise its asset base.
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