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Has anyone received the Rights Shares already?
https://www.channelnewsasia.com/news/world/spain-considers-curfews-to-fight-new-covid-19-wave-13320816
" The Spanish government is considering new restrictions, including possible curfews, in hard-hit regions like Madrid to tackle a new wave of coronavirus contagion, Health Minister Salvador Illa said on Tuesday (Oct 20).
The country, which has Western Europe's highest case load, is likely to surpass one million infections this week and several regions have toughened their coronavirus restrictions in the past few days. "
" The Spanish government is considering new restrictions, including possible curfews, in hard-hit regions like Madrid to tackle a new wave of coronavirus contagion, Health Minister Salvador Illa said on Tuesday (Oct 20).
The country, which has Western Europe's highest case load, is likely to surpass one million infections this week and several regions have toughened their coronavirus restrictions in the past few days. "
IReit Global rights issue raises S$142.8m to fund Spain purchase, repay CDL loan
IREIT Global on Monday concluded an oversubscribed rights issue, raising some S$142.8 million to finance the acquisition of properties in Spain and repay a loan from City Developments Limited (CDL).
Valid acceptances and excess applications totalling 484.4 million rights units were received, which meant the rights issue was 166.2 per cent subscribed, said the Europe-focused real estate investment trust' s manager in a filing late Monday night.
Announced on Sept 18, the renounceable, non-underwritten rights issue was done on the basis of 454 units for every 1,000 units held, at an issue price of S$0.49 apiece.
AT Investments as well as IReit' s joint sponsors Tikehau Capital and CDL have, pursuant to their undertakings, subscribed for their total provisional allotments corresponding to each of their direct interests in the trust.
France-listed asset management group Tikehau and Singapore-listed real estate company CDL jointly own IReit' s manager. As at Sept 18, Tikehau had a direct interest of 29.3 per cent in IReit, CDL owned 21 per cent of the units while AT Investments held 5.5 per cent.
At the close of the rights issue, excluding applications from CDL and AT Investments, valid acceptances and excess applications were received for 403.4 million rights units, or about 138.4 per cent of the rights units available.
Part of the proceeds will be used to acquire the remaining 60 per cent of four freehold multi-tenanted office buildings located in Spain' s Madrid and Barcelona, from Tikehau. These properties are already 40 per cent owned by IReit.
The purchase price for the stake acquisition is estimated at 47.8 million euros (S$77 million), the IReit manager said in its Sept 18 filing. This was derived based on the consolidated net asset value of the joint venture that holds the Spain properties and adjusted based on the properties' agreed market value.
IReit will also use the rights issue' s proceeds to repay a CDL loan in relation to the Spain assets. CDL' s subsidiary had extended a 32 million euro loan to IReit to fund the latter' s purchase of its 40 per cent interest back in December 2019.
Last month, IReit' s manager had said it planned to use about S$77.8 million of the rights issue' s gross proceeds for the share purchase and related expenses, and some S$51.5 million to repay the CDL loan.
The Spain acquisition will add value to the existing portfolio through geographic diversification, and enable IReit to benefit from the " quality tenant base and potential for positive rental reversions" at the four buildings, said Louis d' Estienne d' Orves, chief executive of IReit' s manager, on Monday.
He added that the rights issue improves the trust' s liquidity, reduces debt and puts it in " a strategic position to secure new opportunities with attractive debt terms" .
With the rights issue, IReit' s aggregate leverage has fallen to 35 per cent from 39 per cent.
The issue price of S$0.49 represented a discount of 32.9 per cent to the closing price of S$0.73 on the Singapore bourse on Sept 18, and a 25.2 per cent discount to the theoretical ex-rights price of S$0.655, the manager noted last month.
The rights units will rank pari passu with the existing units in all respects, including the right to any distributions which may accrue for the period from July 1, 2020 to Dec 31, 2020, as well as all distributions thereafter.
The IReit manager expects the rights units to be listed and quoted on the mainboard of the Singapore exchange on Oct 23 at 9am.
Aside from the four Spanish office properties, IReit' s portfolio also includes five freehold office properties in Germany.
D-Day this Thursday ------ we' ll know whether we hve been alloted Excess Rights Shares!!!!!
https://www.google.com/amp/s/www.nytimes.com/2020/10/05/world/two-more-spanish-cities-announce-lockdown-orders-as-a-second-wave-of-cases-spreads-beyond-the-capital.amp.html
"Two more Spanish cities announce lockdown orders as a second wave of cases spreads beyond the capital. "
"Two more Spanish cities announce lockdown orders as a second wave of cases spreads beyond the capital. "
When it comes to investing in SG Reits, nothing beats reading up what our world-famous Oracle of Reits --- AK71 --- says and does.
And he' s not only subscribing all the Rights that cmes with his hughe holding, he' s also subscribing foe access rights.
The fact is, all true long-term dividend investors (myself included) would be better served by dissuading other investors fm subscribing this IReit Rts.
Bcos we' re subscribing for excess rights and hope others will not take-up their rights. But we won' t do such immoral act.
AK71' s latest post has some pointers on IReit rights for readers. Scroll down to the Comments below his post:
http://singaporeanstocksinvestor.blogspot.com/2020/10/3q-2020-passive-income-covid-19-battle.html
And he' s not only subscribing all the Rights that cmes with his hughe holding, he' s also subscribing foe access rights.
The fact is, all true long-term dividend investors (myself included) would be better served by dissuading other investors fm subscribing this IReit Rts.
Bcos we' re subscribing for excess rights and hope others will not take-up their rights. But we won' t do such immoral act.
AK71' s latest post has some pointers on IReit rights for readers. Scroll down to the Comments below his post:
http://singaporeanstocksinvestor.blogspot.com/2020/10/3q-2020-passive-income-covid-19-battle.html
prophetjul ( Date: 01-Oct-2020 10:18) Posted:
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For how long already (a few decades?) have the media been publishing stunning headlines predicting the fall of Spain, Greece, Italy etc and even the EU and the Euro currency?
Similarly, with all the doomsday prophecies of the collapse of Hong Kong economy and the delusional bursting of " property bubble" , " financial bubble" in China.
All the fear-mongers are no better than the Big Fat Liar Corona Virus Trump.
A Century later, all their descendants will still be spewing these same lies of apocalypse!!!!
Similarly, with all the doomsday prophecies of the collapse of Hong Kong economy and the delusional bursting of " property bubble" , " financial bubble" in China.
All the fear-mongers are no better than the Big Fat Liar Corona Virus Trump.
A Century later, all their descendants will still be spewing these same lies of apocalypse!!!!
laksaman57 ( Date: 07-Oct-2020 14:58) Posted:
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Once the rights is credited into your CDP Acc, u shd be able to subscribe for the shares thru the ATMs.
Latest by 15 Oct, 5pm I think.
Latest by 15 Oct, 5pm I think.
Bongbong ( Date: 06-Oct-2020 11:22) Posted:
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The R1 is for odd lots in multiples of 1 rts.
The R is for proper lots of 100 rts (or whatever a proper Lot is --- 10, 100, 1000)
The R is for proper lots of 100 rts (or whatever a proper Lot is --- 10, 100, 1000)
bestluck09 ( Date: 02-Oct-2020 18:47) Posted:
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https://www.bloomberg.com/news/articles/2020-10-07/it-s-spain-not-italy-that-european-investors-are-worried-about
" It&rsquo s Spain, Not Italy, That European Investors Are Worried About.."
" It&rsquo s Spain, Not Italy, That European Investors Are Worried About.."
Can I check if I am not a shareholder now, and i purchase the rights how can i exercise them?
Thanks in advance.
Thanks in advance.
Ya.
Why there are 2 IREIT Rights counters trading today?
Can we sell them? under which counter?
Why there are 2 IREIT Rights counters trading today?
Can we sell them? under which counter?
you have to look at things more in perspective: the new restrictions imposed in Madrid now are even less strict than the restrictions we are living under in phase 2 in Singapore since June: basically no entry or exit from Madrid, which is larger than Singapore, except for work, education or other permitted purposes, bars and restaurants are not allowed to let new customers in after 10pm, people are not allowed to stand at the bar, but have to be served sitting down. For the rest everything is still mostly normal, although people are advised to limit their movements around the region (advisory in Spain is not enforced, so has only limited impact). Yes there will be some economic impact from the new restrictions, but it should be quite limited.
This is definitely not a lockdown, and I doubt there will be new lockdowns anywhere in Europe due to the severe economic impact. Also countries are better prepared now (even Spain which seems a bit more chaotic) than in March, so they should be able to handle this with reasonable restrictions...
This is definitely not a lockdown, and I doubt there will be new lockdowns anywhere in Europe due to the severe economic impact. Also countries are better prepared now (even Spain which seems a bit more chaotic) than in March, so they should be able to handle this with reasonable restrictions...
laksaman57 ( Date: 01-Oct-2020 10:25) Posted:
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What is your outlook? If you are willing to hold long term, just hold and exercise later. You have the right for that, short term result is more or less similar with slight tracking error due to liquidity.
prophetjul ( Date: 01-Oct-2020 09:57) Posted:
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https://www.channelnewsasia.com/news/world/spain-unveils-new-covid-19-transport-restrictions-13165526
"Madrid heads for lockdown after Spain announces new COVID-19 restrictions
Currently a hotbed for infection, the Madrid region accounts for more than a third of the 133,604 cases diagnosed in Spain over the past two weeks. Madrid has 735 cases per 100,000 people, one of the highest of any region in Europe and double the national rate .."
"Madrid heads for lockdown after Spain announces new COVID-19 restrictions
Currently a hotbed for infection, the Madrid region accounts for more than a third of the 133,604 cases diagnosed in Spain over the past two weeks. Madrid has 735 cases per 100,000 people, one of the highest of any region in Europe and double the national rate .."
Thanks mate!
Azure1984 ( Date: 01-Oct-2020 10:16) Posted:
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Just put it in simply, if you sell the rights, you are foregoing future dividends and potential upside in share price. If you exercise and keep the shares, then you will be entitled to furture dividend. It does not make sense if you either want to sell the rights or exercise and sell the shares, as both result in the same outcome.
R = trading of rights in lot of 100 shares
R1 = trading of rights in lot of 1 share
R = trading of rights in lot of 100 shares
R1 = trading of rights in lot of 1 share
prophetjul ( Date: 01-Oct-2020 09:57) Posted:
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Help me here.
The adjusted share price now is 62 cents. 1000 shares cost $620
i have been allocated 454. Its trading at 12 cents. If i sell my 1000 shares effectively is valued at 0.12x454+620/(1000) = $0.674 per share
If i hold the Rights and exercise th purcahse of shares at 49 cents, my cost is 0.49x 454 + 620/(1454) = $0.579 per share
For arguement sake, price stays at $0.62.
If i sell, i have for 100 0shares, $620 shares and $54.5 cash = $674
if i exercise, i have $0.62 x 1454 shares = $901.5 of which 454X0.49 = $222.46 is exercise cost.
Net is $901.5 - $222.46 = $679
Almost the same value. :)
So sell the rights or exercise?
BTW whats the difference between R and R1?
The adjusted share price now is 62 cents. 1000 shares cost $620
i have been allocated 454. Its trading at 12 cents. If i sell my 1000 shares effectively is valued at 0.12x454+620/(1000) = $0.674 per share
If i hold the Rights and exercise th purcahse of shares at 49 cents, my cost is 0.49x 454 + 620/(1454) = $0.579 per share
For arguement sake, price stays at $0.62.
If i sell, i have for 100 0shares, $620 shares and $54.5 cash = $674
if i exercise, i have $0.62 x 1454 shares = $901.5 of which 454X0.49 = $222.46 is exercise cost.
Net is $901.5 - $222.46 = $679
Almost the same value. :)
So sell the rights or exercise?
BTW whats the difference between R and R1?
Thanx bro.
Where can I see the price to sell the rights?
Cant find it on the sgx under IREIT.
Btw, whats the date i can start selling?
How do i apply to sell?
Where can I see the price to sell the rights?
Cant find it on the sgx under IREIT.
Btw, whats the date i can start selling?
How do i apply to sell?
shadow11 ( Date: 27-Sep-2020 16:09) Posted:
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Depending on the reit you chose, I think IREIT will be rather popular. As for Lippo, you may get it. DYDD. My 2 cts.
marketuncle ( Date: 22-Sep-2020 10:00) Posted:
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