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Monday, December 22, 2008

DBS 1 for 2 Rights issue

SINGAPORE, 22 December 2008 - DBS Group Holdings Ltd (“DBS”) today announced a rights issue (“Rights Issue”) to raise net proceeds of approximately SGD 4billion on the basis of one new ordinary share (“Rights Share”) for every two existingshares held as at 5.00 p.m. on 31 December 2008.

I have 1 lot of DBS share with the buy in price 9.88.
The right issue reminds me of Standard Chartered Bank (SCB) who has just completed the right issue on Nov 2008.

The announcement was made during 24 Nov 2008, let's look at how is the market responds:
On Nov 24, SCB open at 728, declines to 695, 4.5%, and bounce back to 725, thanks to the strong rally of 10% rise FTSE100 on that day.
On Nov 25, the price shoot up to 840, a 15% rally.
Will DBS share behaves the same way? at closing price 9.37, DBS cannot really claim they are trading at 45% discount, and this remains less attractive to the investors.
The Rights Issue price of SGD 5.42 per share represents approximately 45%discount to the last traded share price of SGD 9.85 on 19 December 2008 andapproximately 35% discount to the theoretical ex-rights share price of SGD 8.37 pershare.
I would love to see whether DBS share price will rally these few days until Friday to prove my guessing ( through analysis ) is correct.

Monday, August 11, 2008

Today Trading

Buy Masteel for 3000 shares @ 1.49.

Monday, July 28, 2008

Trading today

Selling Huaan 2500 shares @ 0.615 today, as i am buying base on rumours, not really aim for long term investment, so i think its time for me to let go the shares.

Wednesday, July 16, 2008

Today Trading

selling kinsteel for 2000 shares @ 1.21 and 2000 shares @ 1.22

Saturday, July 12, 2008

7/10 Trading

Bought another 2 lots of Kinsteel @ 1.32, total 4000 shares of Kinsteel on hand, entitle 1000 shares of Perwaja.