CitySpring Infrastructure Trust rights issue

[Paul Lee]

I feel your pain. My average price was quite close to yours and I choose to divest. The difference is that becos I've been holding in much longer than you, I exit for a small gain (after including all the distributions).

If you take a look at Cityspring's debt structure, I think you will have your answers. This will not be the last time it will issue rights issue for sure.

 

[Mecisteus]

weng you are lucky you didnt buy at much higher price.

 

[Crimson__Tide]

Ex rights on 11 Aug. Guys, sell or keep to sell until nearer to XR date.

 

[Mecisteus]

Ex rights on 11 Aug. Guys, sell or keep to sell until nearer to XR date.

if everyone knows the share price will fall near XR, then everyone will race to sell earlier.

if everyone knows the share price will rise near XR, then everyone will race to buy earlier.

 

[chensing]

Funny today's teletex Cityspring CD should be CR..oh!! giving cash distributions 1.02cts for first qtr results ending 30June 30June 2011

Found the reason...

yuping wrote:
wrote:
Today Cityspring CD instead of CR shd be cum rights ex on 11 August..why on the telext is CD today..thought they paid out cash liao
CR cum CD for only 3 days starting from today. XD on Friday.

XR on 11 Aug. The current price of 0.48 to 0.485 is at the level so called terp(theoretical ex-Right price) even before XR. Is the "terp" realistic as given in OIS?

According to the terp of 0.485 and exercised right sales price of 0.39, the value of the right would be about 0.09. But, based on the sentiment and current actual CTS' situation, how far would it be lower when the nil-paid R trading commence?


Thks for the info...the theoretical ex price was calculated when co announced the rights issue,the price then was 53.5cts( 53.5x20+11x0.39)/31=0.48...hence based on current price of 48.5cts,the theoretical ex rights price shd be $0.45...

Funny today's teletex Cityspring CD should be CR..oh!! giving cash distributions 1.02cts for first qtr results ending 30June 30June 2011..so get the dividend and run...better ...believe when near ex rights may push back >50cts..what's yr view?

In 2009..they push to 78cts when the the rights price was 48cts(1 for 1),the theoretical ex rights shd be 0.63..when ex it was 66-68cts,possible this time can also make $$$

 

[Crimson__Tide]

Funny today's teletex Cityspring CD should be CR..oh!! giving cash distributions 1.02cts for first qtr results ending 30June 30June 2011

Found the reason...

yuping wrote:
wrote:
Today Cityspring CD instead of CR shd be cum rights ex on 11 August..why on the telext is CD today..thought they paid out cash liao
CR cum CD for only 3 days starting from today. XD on Friday.

XR on 11 Aug. The current price of 0.48 to 0.485 is at the level so called terp(theoretical ex-Right price) even before XR. Is the "terp" realistic as given in OIS?

According to the terp of 0.485 and exercised right sales price of 0.39, the value of the right would be about 0.09. But, based on the sentiment and current actual CTS' situation, how far would it be lower when the nil-paid R trading commence?


Thks for the info...the theoretical ex price was calculated when co announced the rights issue,the price then was 53.5cts( 53.5x20+11x0.39)/31=0.48...hence based on current price of 48.5cts,the theoretical ex rights price shd be $0.45...

Funny today's teletex Cityspring CD should be CR..oh!! giving cash distributions 1.02cts for first qtr results ending 30June 30June 2011..so get the dividend and run...better ...believe when near ex rights may push back >50cts..what's yr view?

In 2009..they push to 78cts when the the rights price was 48cts(1 for 1),the theoretical ex rights shd be 0.63..when ex it was 66-68cts,possible this time can also make $$$

where did u copy this from?

 

[chensing]

asteredo wrote:
so is it advisable to buy after the EX date for rights issue?
..sell after ex-rights better and use the $$$ to pick up the rights..subscribe for excess,the co may give U too...bought another 100lots at 48.5cts today hope for a quick punt,strong support by Temasek at this price 48-48.5cts as the previous rights price in 2009 was 48cts...besides got $10.20 distribution per unit this friday ex....the ex-rights is on 11 Aug while the EGM is on Mon 8Aug,DBS Auditorium..went in because deapite STI dropping more than 80points for past 2 consecutive days..cityspring remains 48-48.5cts,believe this is the support level

 

[WindBoi]

Screw Temasek! I believed in them, and now they dragged me down with this lousy-performing trust! I guess I will still give them the benefit of the doubt and subscribe to the rights.
Loon, ah!

this and singtel are 2 of the investments that show that Temasek never had our interest at heart.

 

[satayxp]

this and singtel are 2 of the investments that show that Temasek never had our interest at heart.

better to know this late than never ~

 

[chensing]

Tomorrow ex dividend DPU is 1.05cts ie about $10.50 per lot..close at 48.5cts..may drop to say 48cts then shd recover before ex-rights...48cts was the rights subscription price in 2009(1 for 1).cut off at 45-47cts after ex-dividend..no point wait for rights issue

 

[greenbubble]

wtf now the price is around $0.39, the right issue price. No incentive to take up the right now. knn

 

[quailmaster]

no incentive to sell rights as well... cos the rights are worthless..

 

[weng0202]

Suddenly, I felt glad that I have sold mine at 0.485 a week or so ago.

 

[greenbubble]

no incentive to sell rights as well... cos the rights are worthless..

Even if worthless Temasek is committed to take it up.

Don't know why when I saw the price hit 0.40, I was hoping it hit 0.39. Maybe the loss is so massive I'm numbed. Anyway I will keep my bullet for other opportunities. This counter is gone case and will put in freezer with Jackspeed.

 

[chensing]

Tomorrow ex dividend DPU is 1.05cts ie about $10.50 per lot..close at 48.5cts..may drop to say 48cts then shd recover before ex-rights...48cts was the rights subscription price in 2009(1 for 1).cut off at 45-47cts after ex-dividend..no point wait for rights issue

Not vested now...Temasek is holding it at 39cts after subscription closed 0nj 2nd sept-39cts...wonder besides Temasek the other underwriter got the balance lion share if holders did not subscribe..will the result of subscription be made known?

 

[Paul Lee]

Result is out.

Acceptances and excess applications have been received for Rights Units representing approximately 130.34% of the total number of 538,962,054 Rights Units offered pursuant to the Rights Issue.

In the end, it seems Temasek just need to take up 54.66% of all the Rights Units instead of the 85% it has undertaken to subscribe.

This tells me that there is still a lot of retail investors who are naive, uninformed, lazy or comforted by the Temasek's backing. Or combination of the above. I wish them well!

[ S O U R C E ]

 

[chensing]

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_47846D86008A516E482579040037B15C/$file/Final_Results.pdf?openelement

Today close at 40cts may be 44-45cta a fairer value..pple buy this stock for its dpu every 3 mths..not vested anymore

 

[Mecisteus]

not vested but so much interest to post in this stock? dont try to play reverse psychology lah. we all know your track record.

 

[chensing]

not vested but so much interest to post in this stock? dont try to play reverse psychology lah. we all know your track record.

OoH oo irritating ass again..
U mean i cannot monitor stocks I used to have...U must have lost a lot of $$$ congras....stop acting like U know everything..yr record shows everything and every counter U also hve comments

 

[outlander]

OoH oo irritating ass again..
U mean i cannot monitor stocks I used to have...U must have lost a lot of $$$ congras....stop acting like U know everything..yr record shows everything and every counter U also hve comments

Be nice. I don't wish to see this degenerating into a flame war.