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Prime REIT IPO Balloting Results

So Prime REIT’s IPO Balloting Results are out (see cover above), and let’s just say they’re not fantastic. IPO Balloting Results To break down the results very simply: Everyone who applied got something – You got it. Everyone who applied for Prime REIT, basically got something. Almost as good as the Singapore Savings Bonds! Everyone who applied up to 99,900 units got everything they applied for – At S$1.20 per unit, it basically means that anyone who applied for up to S$119,880 worth of units at the IPO got their full allocation. That’s actually really generous by the issuer, depending on...

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Prime US REIT – Applied for small number of IPO shares

BackgroundPrime US REIT is offering 335,203,200 units (subject to overallocatement option) in its IPO at USD 0.88 (fixed at SGD 1.20 for public offering) per unit, of which the public offering is no less than 16,761,000 units. The offer will close on 15 July 2019 (Monday) at 12pm Singapore Time and they are currently scheduled to list on 19 July 2019 (Friday) at 2pm Singapore Time. The Portfolio comprises of 11 Freehold Class A Prime U.S. Office Properties spread across the United States. DistributionsPrime US REIT will make distributions to Unitholders on a semi-annual basis with amount calculated as...

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Death of the IPO Market? 12% Private Equity Allocation Rule (FH Podcast)

This week’s Podcast guest is a JP Morgan investment banker turned startup founder. Kelvin Lee was previously at J.P. Morgan working on IPOs across Asia, and has raised over US$20 billion for clients in the course of his professional career. Today, he is co-founder and CEO of Fundnel, a private investment platform that matches private companies with investors who are looking to invest. I had the chance to sit down with Kelvin to learn about his thoughts on career advice for young graduates, the decline of public capital markets, and why growth stocks are the best bet for young...

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Prime REIT IPO Review: Is it a good time to be buying REITs?

In my article last week on the Top 5 High Yielding REITs to buy right now, I listed Prime REIT as one of the better high yielding REITs to buy. Having had the chance to go through the prospectus, I kinda still agree with my original assessment. Let’s take a closer look. Basics Prime REIT has been covered quite extensively by some of the other bloggers out there (see here and here), so you can check those articles out for a brief introduction. Very simply, Prime REIT is a US Office REIT. The closest equivalent REIT in Singapore will...

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3 Reasons Why I Am Not Taking Part in Prime US REIT IPO

The recent talk of the town is the upcoming Prime US REIT IPO. Prime US REIT is a US-based office REIT that offered an attractive yield of 7.6% at the offer price of US$0.88 per unit. The other points of Prime REIT are that its office properties are freehold and have long WALE of 5.5 years. The public offering will end on 15 July 2019 (Monday). Despite the many star attributes, I will not be taking part in this office REIT IPO due to 3 main reasons.1.   The US economy is weakening with the ongoing trade war James...

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Prime US REIT IPO Highlights

One observation I had of the property portfolio was the relatively low occupancy of Tower 1 Emeryville and I asked management to enlighten me on the cause of the low occupancy and the latest occupancy rates at the property. Apparently 2 tenants abruptly left the property and they had to search for new tenants. Currently the occupancy of the building is back to about 91%, so no worries there. The Prime US REIT IPO is currently available for subscription and will close next Monday at 12pm. It will begin trading at 2pm, 19 July. Other US IPO articlesARA US...

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Prime US REIT IPO: 7 Key Things You Need to Know About It

[*Update after Prime US REIT confirmed the IPO] On 28 June 2019, KBS Asia Partners Pte Ltd (KAP) filed in the IPO Prospectus of Prime US REIT IPO – marking the fifth U.S.-based REIT to list in Singapore to date. [Update: it has now filed its IPO Prospectus on 8th July. You can download Prime US REIT IPO prospectus here. ] Its units are offered at US$ 0.88 each with its distribution yield forecasted to be 7.4% in 2019 and 7.6% in 2020. The timing of the offering has not been finalised [Update below]. Sourced from PRIME US REIT...

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Prime US REIT IPO 7.6% Dividend Yield Review – Is It Worth Subscribing?

US REIT IPOs have not performed well this year. ARA US Hospitality Trust began trading below IPO price before ultimately recovering. Other the other hand, Eagle Hospitality Trust has been a horror show, collapsing 10% on opening day and has stayed there ever since. As such, when I heard that Prime US REIT had filed a preliminary prospectus to list soon, I was sceptical.  Will this REIT IPO outdo the other 2 listings and give investors a high? Or will it give investors severe indigestion from US REIT overload?  Let’s take a closer look. Here is a brief overview...

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Prime US REIT IPO – A Qualitative Review

by: Tam Ging Wien All examples and stocks quoted here in this article and on the ProButterfly.com and REITScreener.com site are for learning purposes; it does NOT constitute financial advice or a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence and take into account their own financial situation. If in any doubt about the investment action you should take, you should consult a professional certified financial adviser. Prime US REIT (Prime) has just filed is preliminary prospectus with the MAS just last week Friday, 28-Jun-2019....

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Prime US REIT’s IPO: 7 Things You Need to Know About It

On 28 June 2019, KBS Asia Partners Pte Ltd (KAP) filed in the IPO Prospectus of Prime US REIT IPO – marking the fifth U.S.-based REIT to list in Singapore to date. Its units are offered at US$ 0.88 each with its distribution yield forecasted to be 7.4% in 2019 and 7.6% in 2020. The timing of the offering has not been finalised. You can download Prime US REIT prelim IPO prospectus here.  Below, we will highlight summarize 7 things you need to know about Prime US REIT. Hence, here are 7 main things to know about Prime US...

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Prime US REIT IPO Analysis – 7.6% Yielding Class A Office Portfolio

Prime REIT. Prime REIT. Prime REIT. If you say it fast enough, and repeat it often enough it becomes Prime Rib, Prime Rib, Prime Rib. Not too long ago, Keppel Capital partnered with Peter M. Bren and Charles J. Schreiber, Jr’s KBS Realty Advisers to list a Grade B Office REIT called Keppel KBS in Singapore. Keppel Capital and KBS Asia Partners (KAP) have lodged their prospectus and will go ahead to list their Grade A Office REIT called Prime US REIT. This article will go through what I think about this REIT. The Offer From what we understand,...

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Kim Hin Joo Bhd’s IPO: 10 Things to Know About It

KHJ has a 4-Year Return on Equity (ROE) of 18.10% per annum. This means, KHJ made, on average, RM 18.10 in annual earnings from every RM 100.00 it has in shareholders’ equity from 2015 to 2018. Figures in RM ‘000 unless stated otherwise Year 2015 2016 2017 2018 Revenues 77,031 84,858 93,310 97,687 Profits After Tax (PAT) 8,204 12,234 11,561 11,112 Earnings per Share (Sen) 2.16 3.22 3.04 2.92 Return on Equity (%) 17.71% 20.89% 18.61% 15.17% Source: KHJ’s IPO Document Page 153 #4: Balance Sheet Strength In 2018, KHJ repaid all of its borrowings and thus, have zero...

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UWC IPO: 8 Things to Know about it before Subscribing

#2: Geographical Markets UWC Bhd’s primary market is in Malaysia where it contributed 58.6% of its total revenues in 2018. Its remaining 41.4% of revenues were contributed by exports to Singapore, the United States, France, China and the United Kingdom. Source: Page 96 of UWC Bhd’s IPO #3: Financial Track Record For the last 3 years, UWC Bhd has achieved growth in group revenues, up from RM 76.3 million in 2016 to RM 136.5 million in 2018. It is because the company has received higher orders from its main customers. As such, it has contributed to an increase in...

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Tricklestar IPO: 7 Things You Need to Know about It

#2: Financial Track Record Tricklestar Ltd has recorded higher revenues for the past 3 years. This has lifted the company from a net loss of US$ 0.26 million in 2016 to having net profits of US$ 1.97 million in 2018. Its adjusted earnings per share (EPS) had increased to 2.41 US cents in 2018, from a negative 0.31 US cents in 2016. The profit growth was contributed by an increase in sales and a dip in administrative expenses. Figures in US$ ‘000 in unless stated otherwise Year 2016 2017 2018 Revenues 8,894 10,322 12,841 Shareholders’ Earnings (256) 647 1,968...

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Alliance Healthcare IPO: 7 Things You Need to Know about It

On 24 May 2019, Alliance Healthcare Group Ltd (AHG) has opened an invitation to the public to subscribe its IPO shares at S$ 0.20 per share. Its IPO Prospectus can be downloaded here – AHG’s IPO Prospectus. Application for its IPO shares would close on 29 May 2019 and its listing date is set to be on 31 May 2019. Question: ‘Should I subscribe IPO shares of AHG?’ Personally, I’d studied its IPO prospectus and would like to share my findings on AHG in this article. Thus, here are 7 main things to know about AHG before you subscribe...

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