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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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Frasers Logistics & Industrial Trust - Balloting Results



Frasers Logistics and Industrial Trust ("FLT") announced a strong set of subscription results where the offering was 6x subscribed. It is the largest IPO to-date with S$903m raised.

15 cornerstone investors took up ~48.6% of the units on offer and trading will start on 21 June 2016 at 9am.

"FLT's future growth is driven by a unique multi-pronged growth strategy, both organically through earnings upside from two pre-committed development properties and built-in annual rental increments; as well as Sponsor-driven, inorganic growth from the acquisition of three Call Option Properties, which have been 100.0% pre-committed to incoming tenants. Going forward, we intend to actively manage and enhance the REIT's portfolio to provide stable and growing distributions for our Unitholders." 

The balloting table for the public offering of FLT is presented below. It is very well subscribed. While investors who applied for shares will definitely get "some allocation", the number allocated is definitely well below what investors subscribed for. 


Given the 'hotness', the IPO should debut well unless it is "derailed" by Brexit sentiments. 

I understand from sources that this IPO is very well subscribed by HNWIs from private banks and were provided 50% leverage on them.

Good luck to those who subscribed :)
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Comments

Anonymous said…
Can You review the upcoming United global ipo
30 June 2016 at 08:56
Mr. IPO said…
Yes I will :)
30 June 2016 at 13:32
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