Kim Heng IPO Ballot Results

Previous post: [OUE C-REIT IPO]

Kim Heng Offshore & Marine Holdings Ballot Results

Shares will start trading at 9am on 22 Jan 2014.
Results of the IPO as follow

• 5.8x oversubscribed
• 280x oversubscribed in offer (public) tranche
• 1x subscription for placement shares

Comments on latest OUE C-REIT IPO

We have a BUY call on the latest OUE C-REIT IPO with an eye for the long run (horizon). Expect volatility in prices as US tapering exercise goes into full swing and as OUE C-REIT begins negotiating renewal of rents. Read full article on healthtrading here.

IF YOU ARE UNDECIDED, SG IPO Statistics page will show you how the IPO demand and supply has been from 2012 onwards.

IF YOU WANT TO APPLY, do check out Guide to IPO Investing. The deadline is Noon 23 Jan! Hurry.

Lastly, do follow HealthyTrading on Twitter! We are live on Twitter! Follow to get updated financial news with a Singapore perspective for your investment and trading ideas.

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Croesus Retail Trust IPO Ballot Results

Previous post: [Update to Croesus Retail Trust IPO]

Ballot Results of the Croesus Retail Trust IPO are out as of 9 May 2013 and can summarised as follow

• 229 million shares for placement and public tranche
• 207.6 million shares for placement tranche
• 21.5 million shares for public tranche
• 22.4x oversubcribed in total
• 48.8x subscribed for placement tranche shares
• 19.7x over subscribed for the public tranche shares
• Shares at S$0.93 each
• Expect 8% yield for the first year; Expect 8.1% yield for the next.

Shares will commence trading on a "ready" basis at 2pm on Friday, 10 May 2013!

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The big question is how will it fair on debut and thereafter?

My Commentary on Croesus Retail Trust IPO dated 5 May 2013
Blog post here - Wrong Gears for the Wrong Crowd? - Croesus Retail Trust

Current IPO market conditions
Here's a quick review of the recently listed IPOs and their performances. More data for the full 2012 to 2013 here at SG IPO Statistics page.



In fact, only Logistics Holdings IPO has taken a beating, closing below IPO offer and first day last done prices (-9% and -21% respectively). The other notable counter is Geo Energy Group that is a +32% from IPO offer price but -1% from first day last done price.

Statistically, it means that out of the last 12 IPOs, even if you bought at first day close (the irrational exuberance phase, or in layman 'the pop') you would have made a profit of at least 2% (GDS Global IPO)! If you had obtained the IPO on offer price, you could have made up to 70% by just holding the stock from offer price to date (Gaylin Holdings). In addition, the figures quoted here are unadjusted for dividends that had been paid out by these counters along the year.

Current REITs/Trusts IPO market conditions

If you refer to the table above, the yellow highlighted text pretty much sums up the whole IPO + REITs/Trusts story. Any of these 4 REITs/Trusts would have yielded a good +10% on capital whichever way you look at it, plus more from the dividends that they have been paying out. 

Year 2012/13 IPO Demand Statistics
For the more demanding investor, to have a greater feel of the local demand for IPOs, do check out my compiled "IPO SG Statistics" page for more details!

Also, do bookmark this page // add Healthytrading blog to Twitter // subscribe to RSS feed // subscribe to email feeds to receive latest market news that will move your money. 

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Mapletree Greater China Commercial Trust IPO Ballot Results

Previous post: [Largest IPO in 2 Years Goes Live on 7 March - Mapletree Greater China Commercial Trust]

Balloting Results of the Mapletree Greater China Commerical Trust (MGCCT) IPO are out as of 6 March 2013 and can summarised as follow

• 2,662 billion shares underwritten for listing
• 776.6 million shares for public and placement tranche
• 511.3 million shares for placement tranche
• 215 + 50(reserved units that will be released) million shares for public tranche
• 29.5x oversubcribed in total
• 38.1x subscribed for placement tranche shares
• 8.9x over subscribed for the public tranche shares
• Shares at S$0.93 each
• Expected 5.6% yield for the year ending March 2014; Expected 6.1% yield for the year ending March 2015.

Shares will commence trading on a "ready" basis at 2pm on Thursday, 7 March 2013. Total of 2.66 billion shares listing tomorrow. Official SGX announcement here.

Official announcement document of the MGCCT IPO is available on the company website here.

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Tomorrow is listing day for this mammoth trust that has really ignited the IPO demand in the SGX. The biggest question that we wish to know is how will it fair?

Current REIT market conditions
REITs are clearly the outright winning category of 2012 as investors flocked to yield havens, resulting in a yield compression that we see today. Even so, REITs have still enjoyed considerable upside to the start of 2013. Mapletree brand name REITs have also done well in the current market conditions, surging even further in the last 2 days upon the announcement of listing of this REIT.

• Mapletree Commercial (listed 2011) - $1.445 15 Feb closing price compared to IPO offer of $0.88
• Mapletree Industrial (listed 2010) - $1.390 15 Feb closing price compared to IPO offer of $0.93
• Mapletree Logistics (listed 2005) - $1.240 15 Feb closing price compared to IPO offer of $0.68

Healthytrading Commentary on MGCCT IPO dated 27 Feb 2013
Blog post here - "Largest IPO in 2 Years Goes Live on 7 March - Mapletree Greater China Commercial Trust"

Year 2012 IPO Demand Statistics
To have a feel of the local demand for IPOs, do check out my compiled "IPO SG Statistics" page for a good detailed but yet bite-sized organisation of the statistics.

Also, do bookmark this page // add Healthytrading blog to Twitter // subscribe to RSS feed // subscribe to email feeds to receive latest market news that will move your money. 

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Gaylin Holdings IPO Balloting Results

Balloting Results of the Gaylin Holdings IPO is out as of 24 Oct 2012 and are summarised as follows

• 110,000,000 shares for public and placement tranche
• 5,000,000 for public tranche
• 5.5x oversubcribed overall (reflected in official balloting results statement)
• 0.997x subscribed for placement tranche shares
• 100x (because of small public offer amount) over subscribed for the public tranche shares
• Shares at S$0.35 each

Shares have commenced trading on a "ready" basis at 9am on Thursday, 25 Oct 2012 and have closed at $0.365.

Official announcement document of the Gaylin Holdings IPO is available on the company website here.


On a side note, Dynasty REIT has unexpectedly pulled out of their announced listing citing unfavorable market conditions that are developing. For those of you still in the IPO gunning mode in anticipation for future listings (which I believe is highly likely given the high liquidity phase we are entering into), check out my blog page on "Guide to IPO Investing" to help you navigate around especially if you are a new investor or new to the IPO bidding system of SGX. Help yourself to help yourself!

To also have a feel of the local demand for IPOs, do check out my compiled "IPO SG Statistics" page for a good detailed but yet bite-sized organisation of the statistics.

Also, do bookmark this page // add Healthytrading blog to Twitter // subscribe to RSS feed // subscribe to email feeds to receive the LATEST IPO/market news that will move your money. Why wait, add them now! Links are available all on the right of the page (at the navigation bar).

Geo Energy Resources IPO Balloting Results

Balloting Results of the Geo Energy Resources IPO is out as of 18 Oct 2012 and are summarised as follows

• 289,264,000 shares for public and placement tranche
• 3,000,000 for public tranche
• 2.9x oversubcribed overall (reflected in official balloting results statement)
• 0.9896x subscribed for placement tranche shares
• 184x (because of small public offer amount) over subscribed for the public tranche shares
• Shares at S$0.325 each

Shares will commence trading on a "ready" basis at 9am on Friday, 19 Oct 2012.

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Official announcement document of the Geo Energy Resources IPO is available on SGX here.


On a side note, Dynasty REIT and Gaylin Holdings have subsequently announced their IPO listings that will be due on the SGX mainboard next week. The IPO scene is truly heating up!

For those of you gunning for the upcoming 2 more IPOs, check out my blog page on "Guide to IPO Investing" to help you navigate around especially if you are a new investor or new to the IPO bidding system of SGX. Do not waste time; time is ticking away to those offer deadlines!

To also have a feel of the local demand for IPOs, do check out my compiled "IPO SG Statistics" page for a good detailed but yet bite-sized organisation of the statistics.

Also, do bookmark this page // add Healthytrading blog to Twitter // subscribe to RSS feed // subscribe to email feeds to receive the LATEST IPO/market news that will move your money. Why wait, add them now! Links are available all on the right of the page (at the navigation bar).

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Religare Health Trust IPO Balloting Results

Results of the Religare Health Trust IPO is out as of 18 Oct 2012 and are summarised as follows

• 567,455,000 shares for public and placement tranche
• 12,000,000 for public tranche
• 2.3x overscribed for placement tranche shares
• 14.5x over subscribed for the public tranche shares
• IPO raising with 567.455 million shares at S$0.90 each

Shares will commence trading on a "ready" basis at 2pm on Friday, 19 Oct 2012 (instead of 9am on 22 October as previously stated) [CNA Official]

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Official announcement document of the Religare Health Trust IPO is available on SGX here.


On a side note, Dynasty REIT and Gaylin Holdings have subsequently announced their IPO listings that will be due on the SGX mainboard next week. The IPO scene is truly heating up!

For those of you gunning for the upcoming 2 more IPOs, check out my blog page on "Guide to IPO Investing" to help you navigate around especially if you are a new investor or new to the IPO bidding system of SGX. Do not waste time; time is ticking away to those offer deadlines!

To also have a feel of the local demand for IPOs, do check out my compiled "IPO SG Statistics" page for a good detailed but yet bite-sized organisation of the statistics.

Also, do bookmark this page // add Healthytrading blog to Twitter // subscribe to RSS feed // subscribe to email feeds to receive the LATEST IPO/market news that will move your money. Why wait, add them now! Links are available all on the right of the page (at the navigation bar).

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Courts IPO Balloting Results

Results of the Courts Asia IPO is out as of 8pm 12 Oct 2012 and are summarised as follows

• 85,795,000 shares for public and placement tranche
• 24.4x over subscribed for the public tranche shares
• 77,920,000 shares for cornerstone investors
• JF Asset Management
• New Silk Road Investment
• Target Asset Management
• Value Partners
• IPO raising of $137.1million

Shares will commence trading on a "ready" basis at 9am on Monday, 15 Oct 2012.

Complete results of the Courts Asia IPO is out as of 8pm 12 Oct 2012 and is available on SGX here.

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Far East Hospitality Trust IPO Balloting Results

Far East Hospitality Trust IPO balloting results are finally out as of 9:08 PM SG time. A snapshot of the Public tranche offer balloting result is available below. For more information, the full balloting announcement is available via SGX website here.

Some key points summarizing this IPO exercise

1. 14.6 times subscribed
• 732,338,000 stapled securities was bid for
• 50,000,000 only available (an additional 1,800,000 shares on top of the 50,000,000 is also in the public tranche but only available for subscription by directors etc.)
2. 267,566,000 stapled securities offered to institutional and other investors via placement tranche.
• Approximately 30 times subscribed
3. DBS Bank is acting as the stabilising manager with over-allotment of 65,873,000 shares from the placement tranche.

Note that shares for FEHT will start trading on the SGX mainboard on 27th Aug 2012, Monday.