I missed my chance to buy FLT REITs at a discounted price of $0.967 (Trading at $1.03) per share through the preferential offering as shown in the blue paper above. (Just kill me lol) I previously bought into Frasers Logistic and Industrial Trust because I believed it might give me the chance to participate in the accreditive offering. However, I did not know how this will come about even as I read how other bloggers/ investors had the offer on forums. The strongest memory I have was how one investor said he subscribed through the use of ATM but needed to know how much you are entitled or allocated to buy.
Today, I just discovered how. Much for my own loss.
In fact, I opened my letter box late (usually my mum does it and she didn't open it for last week). As such, I am late by 2 days when I could have accumulated more units at a much more attractive price, bringing down my cost per unit.
Anyway, no use crying over spilled milk.
The first signs of this came when I received the yellow paper about "Distribution Reinvestment Plan (DRP)" for FCOT. This was before I received the FLT's preferential offering which I deem as more attractive. I also similarly opened the letter late and as a result I could only receive my dividends in cash back to my bank account.
Learning points:
- A DRP might be a good tool to use to accumulate more units by receiving dividends in the form of units instead of cash. Not all REITs offer this.
- This is my first encounter on a Rights/preferential offering letter and I had no idea how most of these worked. Now I do.
- I will need my own letter box key from now on and I will check for my own letters. This is a necessary change since I have never checked the family letterbox.
- I will need my own letter box key from now on and I will check for my own letters. This is a necessary change since I have never checked the family letterbox.
Till Next Time,
K.C.
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