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IREIT Global

Starship
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10-Jul-2021 16:20

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No need to have the letter.
Just go to the ATM and pay for the rights shares.
Use the bank account that u use to trade stocks --- therefore use the ATM fm this bank.
At the ATM, select OTHERS ........ RIGHTS, etc ......
Key in how many Rights Shares u want to subscribe (entitled plus excess rights shares), and pay the amount.

Rogasi ( Date: 10-Jul-2021 15:38) Posted:

Hi, can soemone help me, thanks.
I have 10000 iReit Global shares and in my CDP account you can see anbother position with the Offering Rights of 2140 units . but due that we just shifted to a new place, I dont have the invitation letter. But as mentioned, in my CDP account you can see it, but how can I pay for it when i dont have the letter? Or how can I get a copy of the letter? Thanks

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vinc3538
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10-Jul-2021 16:14

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hi rogasi,
you can go to dbs, uob, ocbc atm machine to apply the ireit rights
does not required invitation letter
the deadline is this coming monday at 5pm...
hope it helps.

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Rogasi
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10-Jul-2021 15:38

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Lobster
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03-Jul-2021 12:54

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KGI Securities analyst Kenny Tan has started coverage on iREIT Global with an &ldquo outperform&rdquo rating and a target price of 69 cents, representing around 13% upside from current levels.

In his initiation report dated June 18, Tan' s rating is underpinned by the " fairly stable" European office market.

He highlights that iREIT has &ldquo fared relatively well&rdquo throughout Covid-19, thanks to rents staying firm despite weaker leasing activity. &ldquo [iREIT] was able to promptly collect on rents, while settling new lease agreements with its key tenant, GMG, a wholly-owned unit of Deutsche Telekom,&rdquo Tan notes.

He expects IREIT to benefit further as the European economy recovers.

Tan highlights that the surge in Europe' s inflation rate as its economy picks up may boost iREIT&rsquo s rental reversion, given that almost all of its leases are inflation-linked and incorporate rental step-ups tied to the consumer price index.

Tan is also positive on iREIT&rsquo s proposal to acquire 27 Decathlon properties, its first foray in France as well as retail properties. &ldquo We see the acquisition to be beneficial as it reduces key tenant, geographical and sector concentration risk, while being potentially DPU and yield accretive,&rdquo he says.

Looking ahead, Tan expects foreign office REITs listed on the SGX including iREIT to &ldquo become attractive again&rdquo as global office markets stabilise.

While foreign office REITs usually trade at a dividend yield premium compared to local office REITs, Tan expects this to narrow, which will be beneficial to iREIT.

Tan&rsquo s target price of 69 cents is based on the dividend discount model. It implies a 6% capital appreciation gain and 6.9% forward dividend yield.

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Lobster
Elite

02-Jul-2021 16:22

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In case you are new here, I mean new to this stock, I have a piece of good news for you in case you are not aware.

if you were buying in order to subscribe to the rights before xdate of 28 June, you effectively qualified for its ADVANCE 2Q JUNE dividends of $0.0223 per share which is indirectly a de facto DIS, because you can use it to pay for your rights (though not in an actual direct way).

so, assuming you bought 10,000 shares, you can subscribe 2140 shares, and let say you rounded it up to 2,500 shares including excess (which you' ll likely get), you will be actually paying only ($1487.50 rights cost less $223.00 advance dividends) = $1264.50 total cost.
which means each right actually costs only $0.5058 per rights unit (Instead of $0.595). This is a small difference but still a benefit of buying to subscribe to the rights. Those who buy the shares AFTER 28 June will not qualified for this advance 2Q JUNE dividends.

actually quite a number of companies adopted this strategy when issuing rights, but often gone unnoticed, and unappreciated.

Lobster ( Date: 02-Jul-2021 13:39) Posted:

Just received my invitation to subscribe the rights offer of 214 for 1000 @$0.595 issue price.
last day of application: 12 July 2021 at 9.00 a.m. ( if you are applying by cheque, must reach CDP by this time)
(9.00 a.m. for Electronic Applications or Accepted Electronic Service (including PayNow))

Just some info
in October last year, ireit launched a rights offer of 454 for 1000 @ $0.49.
I applied 50% excess of my allotment and got only half of it
price has been hovering around 0.64 to 0.655 ever since. Not bad
CDL has an interest in this, and I think at some point in the future, it may mount an M& A on this since it has been expressing a keen interest in REITS development

Compare this with a similar size in ARA LOGOS
in December last year, ARA launched a rights offer of 77 for 1000 @$0.5525.
I applied 50% excess of my allotment and got all of them.
price has shot up ever since and is trading now at around. 0.86 cents . Fantastic gain

Not only that, ARA has been giving yields last two FY of around 7 to 7.5%
even at current price it' s yields would be still around 5%
IREIT, because of lower price, has been giving yields last two FY of around 7.7 to 8.5%
at current price it' s still would be an attractive 6.5%!

However, ARA is now trading at premium to its nav of 0.538 (about 1.6x)
On the other hand, IREIT is trading at a discount to its nav of 0.733 (0.88x)
ALL points to IREIT having a lot of room to move upwards. Just my opinion.

heavily involved in both
bpdyohwadfmb

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Starship
Supreme

02-Jul-2021 14:06

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Lobster ( Date: 02-Jul-2021 13:39) Posted:

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Starship
Supreme

02-Jul-2021 13:55

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Haha, those waiing for Ireit share proce to drop to 0.595 can go wait till kingdom come !!!!!

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Lobster
Elite

02-Jul-2021 13:39

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Joelton
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01-Jul-2021 09:40

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IReit Global launches equity fundraising to raise S$126.7m for France property acquisition

IREIT Global on Wednesday said it is issuing a non-underwritten placement of 11.4 million units at 61.55 Singapore cents per unit to Bond Capital Partners, to raise around S$7 million.

The placement is part of its equity fundraising exercise to raise gross proceeds of S$126.7 million, IReit' s manager said in a stock exchange filing.

The Europe-focused real estate investment trust (Reit) will also be launching an underwritten pro rata and non-renounceable preferential offering for eligible existing unitholders, to raise S$119.7 million under the equity fundraising exercise.

The preferential offering will be done on the basis of 214 units for every 1,000 units held, at an issue price of 59.5 cents per unit, the manager said.

Net proceeds from the equity fundraising will be used to partially finance the acquisition of 27 retail properties in France, which cost around S$195.7 million, the Reit' s manager said.

In April, IReit, through its wholly-owned subsidiary Fit 2, entered into a conditional sale agreement to acquire Decathlon' s properties in France for 110.5 million euros (S$176.8 million).

Part of the proceeds will also be used to finance future capital expenditure and repay debt, the manager added.

Once the fundraising exercise is complete, IReit' s total number of issued units is expected to be 951.3 million. The new units issued will be listed and quoted on the mainboard of the Singapore Exchange at 9am on Wednesday.

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Starship
Supreme

30-Jun-2021 12:20

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Go read the forums and blogss, Dividend Investors are all waiting eagerly to apply for a many Excess Rights as they can afford.
And are also waiting to scoop up more shares fm the open market if it drops to 59.5.
Dividend investors in SG is a force to be reckoned with.
Just look at what happened in the ARA Logos Rights Issue!!!

buayjinchu ( Date: 30-Jun-2021 09:59) Posted:

Market price will fall to 59.5

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Plantoretire
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30-Jun-2021 11:04

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I don' t think so, acquiring Decathlon' s properties in France is overall positive with yield accretion and business diversification. The price is still holding strong after exercise distribution says investors are not letting go this stocks.

buayjinchu ( Date: 30-Jun-2021 09:59) Posted:

Market price will fall to 59.5

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buayjinchu
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30-Jun-2021 09:59

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Market price will fall to 59.5

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PhillipTan
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30-Jun-2021 09:35

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IReit Global launches equity fundraising to raise S$126.7m for France property acquisition

IREIT Global on Wednesday said it is issuing a non-underwritten placement of 11.4 million units at 61.55 Singapore cents per unit to Bond Capital Partners, to raise around S$7 million.

The placement is part of its equity fundraising exercise to raise gross proceeds of S$126.7 million, IReit' s manager said in a stock exchange filing.

The Europe-focused real estate investment trust (Reit) will also be launching an underwritten pro rata and non-renounceable preferential offering for eligible existing unitholders, to raise S$119.7 million under the equity fundraising exercise.

The preferential offering will be done on the basis of 214 units for every 1,000 units held, at an issue price of 59.5 cents per unit, the manager said.

Net proceeds from the equity fundraising will be used to partially finance the acquisition of 27 retail properties in France, which cost around S$195.7 million, the Reit' s manager said.

In April, IReit, through its wholly-owned subsidiary Fit 2, entered into a conditional sale agreement to acquire Decathlon' s properties in France for 110.5 million euros (S$176.8 million).

Part of the proceeds will also be used to finance future capital expenditure and repay debt, the manager added.

Once the fundraising exercise is complete, IReit' s total number of issued units is expected to be 951.3 million. The new units issued will be listed and quoted on the mainboard of the Singapore Exchange at 9am on Wednesday.

Units of IReit Global closed on Tuesday at 64.5 cents, up 0.5 cent or 0.8 per cent.

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Starship
Supreme

28-Jun-2021 13:42

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Oh, there' s an error in DBS Vickers online platform.
Today is XD and it shows share proce dropped by more than $1 or 66%.
Nearly gave me a heart- attack!!!

Starship ( Date: 28-Jun-2021 12:40) Posted:

How come share price crashed an unbelievable 66% today????

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Starship
Supreme

28-Jun-2021 12:40

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How come share price crashed an unbelievable 66% today????

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Joelton
Supreme

28-Jun-2021 09:38

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IReit Global

On June 23, IReit Global Group non-executive director Sanjay Bakliwal acquired 85,400 units of IReit Global for a consideration of S$55,937.

At 65.5 cents per unit, this increased his direct interest in IReit Global to 0.01 per cent.

Mr Bakliwal is the chief investment officer with AT Capital and a director across AT Group companies in energy, real estate and financial services sectors.

IReit Global' s current portfolio consists of five freehold office properties in Germany and four freehold office properties in Spain, independently valued at approximately 720 million euros on Dec 31.

The Reit maintains a 95.9 per cent occupancy and a 3.4 years weighted average lese expiry.

Subject to unitholder approval, IReit Global Group expects to complete the acquisition of a portfolio of 27 retail properties located across France by Q3 2021.

Post-acquisition, the manager expects the portfolio to be valued at approximately 834 million euros.

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Starship
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22-Jun-2021 10:38

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Whenever a company carries out a big transaction involving changes to the number of shares, it will pay advanced dividends earned before the transaction to existing shareholders.
Bcos the new shares issued are Not Entitled to the dividends earned before they came into existence.
These new shares are only entitled to dividends that vests from the date they come into existence.

prophetjul ( Date: 22-Jun-2021 10:24) Posted:

An unusual payment? Special payment?

Starship ( Date: 22-Jun-2021 09:48) Posted:

ADVANCED DISTRIBUTION

The quantum of Advanced Distribution per Existing Unit is currently estimated to be between 2.23 Singapore cents to 2.33 Singapore cents, being a tax exempt income distribution. A further announcement on the actual quantum of the Advanced Distribution will be made by the Manager in due course.

The next distribution following the Advanced Distribution will comprise IREIT&rsquo s distributable income for the period from the day the New Units are issued pursuant to the Placement to 31 December 2021 (the &ldquo Relevant Period Distribution&rdquo ). Semi-annual distributions will resume thereafter.

Unitholders whose securities accounts with CDP are credited with Units as at 29 June 2021 at 5.00 p.m. will be entitled to the Advanced Distribution.
The Advanced Distribution will be paid on or around 27 August 2021.

The Advanced Distribution is intended to ensure that the distributable income accrued by IREIT from 1 January 2021 up to the day immediately preceding the date of issue of the New Units pursuant to the Placement (which at this point, will be entirely attributable to the Existing Units) is only distributed in respect of the Existing Units, and is being proposed as a means to ensure fairness to holders of the Existing Units.

IMPORTANT DATES AND TIMES

Event Indicative Date
Last date that the Units are quoted on a &ldquo cum&rdquo basis 25 June 2021

Record Date for entitlement to the Advanced Distribution
and eligibility to participate in the Preferential Offering 29 June 2021 at 5.00 p.m.

Payment of Advanced Distribution On or around 27 August 2021

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prophetjul
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22-Jun-2021 10:24

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An unusual payment? Special payment?

Starship ( Date: 22-Jun-2021 09:48) Posted:

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Starship
Supreme

22-Jun-2021 09:48

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Starship
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22-Jun-2021 09:36

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INDICATIVE TIMETABLE

Event Indicative Date
Launch of the Equity Fund Raising 21 June 2021

Record Date for entitlement to the Advanced Distribution
and eligibility to participate in the Preferential Offering 29 June 2021 at 5.00 p.m.

Listing of New Units pursuant to the Placement 30 June 2021 at 9.00 a.m.

Opening date and time for the Preferential Offering 2 July 2021 at 9.00 a.m. (9.00 a.m. for Electronic Applications)

Payment of Advanced Distribution On or around 27 August 2021

Last date and time for acceptance, application
(if applicable) and payment for provisional allotments
of New Units and Excess New Units pursuant to the
Preferential Offering 12 July 2021 at 5.00 p.m. (9.30 p.m. for Electronic Applications)

Listing of New Units pursuant to the Preferential Offering 21 July 2021 at 9.00 a.m.

Lobster ( Date: 22-Jun-2021 00:47) Posted:

Rights again!! Vested.

Issue Price
S$0.6155 for each New Unit under the Placement
S$0.595 for each New Unit under the Preferential Offering

Discount
The Placement Issue Price represents a discount of:
(i) approximately 6.0% to the VWAP of S$0.6548 per Unit of all trades in the Units on the SGX-ST for the full Market Day on which the Subscription Agreement was signed on 21 June 2021 and
(ii) (for illustrative purposes only) approximately 2.6% to the Adjusted VWAP of S$0.6320 per Unit.

The Preferential Offering Issue Price represents a discount (the &ldquo Preferential Offering Issue Price Discount&rdquo ) of:
(i) approximately 9.1% to the VWAP of S$0.6548 per Unit of all trades in the Units on the SGX-ST for the full Market Day on which the Underwriting Agreement was signed on 21 June 2021 and
(ii) (for illustrative purposes only) approximately 5.9% to the Adjusted VWAP of S$0.6320 per Unit.
The Preferential Offering Issue Price and the Preferential Offering Issue Price Discount have been determined after taking into account precedent transactions, the transaction size and discussions with the Joint Global Co- ordinators and Bookrunners.

Allotment Ratio Use of Proceeds
214 New Units for every 1,000 Existing Units (fractions of a New Unit to be disregarded)

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