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Singapore IPOs: Why I No Longer Cover Every Listing

Some readers may have noticed that I have not been writing about every Singapore IPO since last year. The simple reason is that life has become busier. Between my day job, an increasingly packed travel schedule, family commitments and desire to play more golf, I have become much more selective about how I spend my time.  Writing detailed IPO reviews takes time — reading prospectuses, analysing financials, comparing valuations and understanding the competitive landscape. While I still enjoy investing and writing, I no longer feel the need to cover every IPO that comes to market. Instead, going forward, I will probably focus only on IPOs where I am seriously considering investing my own money or where there is something particularly interesting that is worth discussing. I suspect this will make the blog more useful as well. Rather than writing about every deal, I can spend more time sharing my thoughts on the handful that I believe deserve attention. That bring...
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Soilbuild Construction - Balloting Results

Soilbuild announced that its IPO was 7.5x subscribed.

The balloting results as follows:


As you can see, it is quite difficult to get a meaningful allocation unless you apply 500 lots (outlay of $125k) of which you then receive 5 lots. Anything less than 500 lots, you get only 1 or 2 lots and the chance of getting it is quite low anyway and can't possibly cover the brokerage unless the IPO opens strongly.

I didn't apply so no "IPO results" to show you.


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Anonymous said…
The company or its underwriting bank should have some common sense ....
What is the purpose of giving one lot??

To help generate business for SGX???
24 May 2013 at 15:54
Mr. IPO said…
To meet the 1,000 shareholders requirement.
24 May 2013 at 16:50
Anonymous said…
On Friday, STI has dropped 61.2 points, seem like beginning of "Sell on May and go away".

With your expertise, what will be the 1st Day Closing Price of this IPO.

Thanks in advance.
24 May 2013 at 19:13
Mr. IPO said…
My guess is that it will open between 27-30c.
24 May 2013 at 20:15
Anonymous said…
Got lucky, 2 lots! :)
24 May 2013 at 22:42
Anonymous said…



[[ anonymous 7 ]]


re : What is the purpose of giving one lot??

=================

I think this is because retail "investors" flip and stag too much.

So, just allocate nothing to retail investors. That will solve the problem.

Just and deserved desserts.

25 May 2013 at 02:19
Mr. IPO said…
My "syndicate friend" says 35c and above. Lets see :)
25 May 2013 at 13:53
Anonymous said…
brother IPO, soilbuild 0.390. listing price 0.25, even 1 lot also huat big lei. u sure about asia tv ipo? sentiment so good maybe we can make kopi $$$
27 May 2013 at 09:05
Mr. IPO said…
Haha. I am not sure but also prove my "syndicate" friend very zhun. :-P

APTT is tricky as the float is too big and difficult to "control" but may attract yield hungry investors. There are one or two buy reports being circulated by the professional analysts. You may want to read their reports and make your own decisions. ^_^
27 May 2013 at 09:11
Anonymous said…
what your syndicate friend say about asian pay tv? hahahas
27 May 2013 at 10:24
Mr. IPO said…
haha checking with him now :P

I am seriously undecided whether to apply or not. I am thinking of punting but the huge float is always a big worry. hahaha
27 May 2013 at 10:41
Anonymous said…
This IPO offer price was 25 cents but 1st day open price was 37 cents. How does 37 cents was determined?

1st day closing price was 36 cents but 2nd day open price was 35.5 cents. How come open price was 35.5 cents instead of 36 cents?

Thanks in advance.
29 May 2013 at 12:47
Mr. IPO said…
It's all demand and supply la.
29 May 2013 at 13:47
Anonymous said…
How come 1-2 lots then cannot cover.the brokerage.
8 June 2013 at 05:07
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