Today the result of OCBC right issue was out. This right issue must have been well received and subscribed by investors, because I was only awarded with 29 excess right shares though I applied for more. The excess shares don't even round my holding to the full lot, but only to the next half lot...hmm...
Full lot or not, it's not so important. Since I am subscribing to the scrip dividend scheme, I am going to receive odd lot anyway. Since the shares (rights and excess rights) received are at a discount, there is also no reason to complain too much. Of course it will be nice to receive a bit more... LOL.
Sigh! 人心不足，在下也不能免俗。
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7 comments:
I got my inspiration from ghchua and you
I am also cautious about the current SG stock market which is running high and am afraid of any correction happening in the near future.
do you just keep buying every month? how many stocks you have now?
Hi Jimmy,
Ghchua is my Shifu. I was inspired by him.
There are now 74 counters in my stock portfolio. Yes I kept buying but have slowed down in the recent months as the STI reached quite a high level and my dividend target reached(projected).
I still look for opportunities to buy undervalued and high yield stocks though.
thanks i will follow your blog
pls see mine too http://mycreativeinvest.blogspot.sg/
just created yesterday :D
Sad Case...I only got 75 excess, so its rounded off to nearest 100 lot size. Apparently there is a small window of 1 month to trade in 100 lot size. too much selling pressure, so not sure if OCBC can go up to $10 within a month.
HI HM Sha
I am not too concerned about the odd shares since I am not selling them. I am a "buy and hold" investor. :)
Hi Sanye,
Long term investor always win. :)
Hmm...you will be interested to know trading of OCBC shares less than 1 lot size (that is in groups of 125 shares) is only allowed within a certain time frame.
These are the exact words:
"Investors who continue to hold odd lots of less than 1000 shares after 29 October may face difficulty and/or have to bear disproportionate transaction costs in realising the fair market price of such shares"
HI HM Shak,
Thanks for the information. I am aware of such difficulties, as I am holding odd lots of many counters through participation in scrip dividend scheme.
OCBC is no exception. I will be receiving odd lots again come this 17 October.
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