Jun 06 2009
Keppel Land Rights Results
At the close of the Keppel Land Rights Issue, application for a total of 954,028,587 Rights Shares were received. This is approximately 146.96% of the total number of Rights Shares on offer.
Valid acceptances came up to 636,950,142 Rights Shares, which was about 98.12% of total Rights Shares available.
Excess application came up to 317,078,445 Rights Shares, which was 48.84% of total Rights Shares available.
The 12,235,230 Rights Shares which were not taken up will be used to satisfy the excess Rights application.
The new shares will start trading from 12th June 2009.
A temporary counter to facilitate the trading of shares in board lots of 100 shares will be available for 1 month. The name of the counter will be Keppel Land 100.
I apply 30,000 excess right but only allocated 100 share. Similarly my friend who apply 5000 & 10,000 excess share been alocated 500share & 1.5 lot respectively. Why ? How is the allocation rate & can I appeal ?
Reply
lioninvestor Reply:
June 13th, 2009 at 3:02 pm
Hi Shirley,
for this particular rights issue, there was very little balance rights to be allocated to satisfy the excess rights applications.
How they allocate is a black box formula and there is nothing much we can appeal on.
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Baoqiang Reply:
June 13th, 2009 at 11:34 pm
Hi Shirley,
Looking that you applied 30 lots excess yet only getting 100 excess, curious did you only purchase 1lot, perhaps this is what affecting, mind sharing? Cause it stated that it will satisfy the odd lots holder 1st.
Similarly i had 5lots and applied for 5.5lots excess, i got 1.5lots approved, and understand that the total applied rights is 146.96%…whatever excess is really bonus given that the market price for Kepland is $2.40 now…
Regards,
Baoqiang
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Hi,
I’m allocated 900 rights. However, I opt for the dividend as share scheme which give me 59 shares. Now with 959 shares which is not 1 lot, how can I trade this? Can I purchase any additional shares to make it 1 lot?
Thanks!
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lioninvestor Reply:
June 15th, 2009 at 11:57 pm
Hi KM,
you can buy/sell individual shares on the unit market.
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KM Reply:
June 17th, 2009 at 10:33 pm
Hi Lioninvestor,
I’m slightly confused here. I would like to purchase additional 41 shares to make up a 1000 shares (1 lot). Do I do this under the Kepland100 counter?
Thanks!
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lioninvestor Reply:
June 18th, 2009 at 12:47 am
Hi KM,
You trade the unit shares by placing your order with your broker.
It’s a secondary market.
If you have poems, you can do it online.
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KM Reply:
June 18th, 2009 at 9:16 am
Hi Lioninvestor,
Thats to say I need to tell my broker that i would like to purchase 41 Kepland shares? Then may I ask what is the trading price for these unit shares?
Thanks!
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lioninvestor Reply:
June 18th, 2009 at 9:26 am
Hi KM,
you will need to check with your broker on the live prices and volume for the unit market.
Note that normal commission charges apply. in this case will be more than 50% of the value of the 41 shares.
If your intention to buy that 41 shares is to make it into a round lot so that you can sell it later, note that you can also sell your 959 shares directly on the unit market.
You can also wait for the next round of dividend which will bring it across the 1000 shares barrier.
Reply
KM Reply:
June 22nd, 2009 at 9:58 pm
Hi Lioninvestor,
Thanks alot for the advice!
Hi Baoqiang,
I am holding odd lot of 10 share & only entitle of 9 share base on the allocation. Initially received information from my broker that I should be have high chance to allocated up to 1 lot min base on excess of 30000 lot i applied. Its a diappointment !
Reply
lioninvestor Reply:
June 16th, 2009 at 1:21 pm
Hi Shirley,
I think for this particular case, they place more emphasis on how many lots you own initially, rather than how many excess you actually apply for.
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alice Reply:
June 17th, 2009 at 12:29 pm
hi lioninvestor,
just to clarify with you about the term “how many lots you own initially”. do you mean the “mothershare still owned at the time of excess right application” or the “mothershare lot before ex-right day”?
hi shirley,
sorry to hear about your application result. just wondering why how you would end up having 10 share. not sure if you mean 10 lot?
thanks,
alice
Reply
lioninvestor Reply:
June 17th, 2009 at 1:09 pm
Hi Alice,
I meant before ex-rights date.
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Hi,
I was just wondering that if I was given issue rights for 900 shares and I applied for 100 excess rights, so my total confirmed by CDP mail was 1000 shares. Previously i bought 1 lot at 2.70, may I know what will be my cost of owning the 2 lots of shares:
1090 + 2700 = 3790/2000 = 1.895?
So presuming that I want to sell tomorrow at the target price of 2.40, so that means I will make roughly around 2.40 – 1.90 = 0.50 per lot is that correct?
Can I keep my total 2000 shares until the right higher price? A bit of a concern as in my UOB kayhian portfolio, I can only see the 1000 shares as according to them, the remaining 1000 share is with CDP.
Is that correct? Appreciate your reply and thanks.
Reply
lioninvestor Reply:
June 16th, 2009 at 11:08 pm
Hi Justin,
Yes for your calculation.
You don’t to worry about what is reflected under your brokerage firm’s portfolio as they only reflect transactions that were done through them.
You should check your CDP records to make sure you have 2000 shares before selling.
Reply
Hi Lion,
I agree, if not alot will apply for excess instead of purchasing the mother shares.
Btw i received the final Dividend from Keppland of $0.08 per share today, I received both the dividend and rights, however it stated that shareholders are not entitle to the final dividend if they receive the rights as below statement stated in their rights pdf file & notification booklet. Is this confirm?
Shareholders who are allotted and issued the Rights Shares will not be entitled to the Final
Dividend in respect of such Rights Shares. Further, the Shareholders electing to receive
the Final Dividend in Shares pursuant to the Dividend Reinvestment Scheme (“Dividend
Shares”) will not be eligible to participate in the Rights Issue with respect to such Dividend
Shares.
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lioninvestor Reply:
June 16th, 2009 at 10:19 pm
Hi Baoqiang,
It simply says that the
1) new dividend shares are not entitled to the rights.
2) new right shares are not entitled to dividends.
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Baoqiang Reply:
June 17th, 2009 at 8:37 pm
Hi Lion,
Thanks for the explanation.
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Hi may I know when is the trading of Keppel Land 100 shares ending exactly? Date? I have 1900 units outstanding right now and plans to buy more.
Thanks in advance.
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lioninvestor Reply:
July 3rd, 2009 at 11:21 am
Hi Terence,
It will end one month from the listing date so that is very soon.
Actually, you can trade odd lots on the unit market any time.
The unit market for Keppel Land is generally quite liquid.
Reply
Terence Reply:
July 3rd, 2009 at 12:12 pm
Ok thank you for your prompt reply!
I just want to know how much time do I have from now to buy up the remaining 100 units odd lot. I was thinking of buying another 1100 units to make my brokerage fee more worth it
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Hi,
This is a really simple question, but…what happens to my keppeland 100 shares on 12th July? Do they automatically convert into kepland shares?
Reply
lioninvestor Reply:
July 9th, 2009 at 7:50 am
Hi John,
what do you mean? Nothing happens on 12th July.
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Hi Lion
How do I trade those shares that is reflect under CDP account which is not reflected under my iOCBC account?
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lioninvestor Reply:
July 28th, 2009 at 10:21 pm
Hi TCL,
It doesn’t matter what is shown under your iocbc account.
What is shown in your CDP is more important.
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Hi
The problem lies in how should I go about selling off those shares hold under CDP account?
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lioninvestor Reply:
July 30th, 2009 at 7:07 am
You can create the sell transaction in iocbc, or any other brokerage firm that is linked to your CDP account.
Unless you are using special accounts like margin account, etc, iocbc does not keep any assets, they are all held with CDP. What you see inside your iocbc portfolio is just based on what you bought through them.
You can buy shares from 5 different brokerage firms, and sell all the shares through any one of them even though the portfolio view for each will just show the number of shares that you bought through that brokerage firm.
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I bought Kepland (K17) units and they got listed as Kepland 100 and now as _xKepLand 100. I can’t sell them as _xKepLand 100.. but is it still possible to sell them as Kepland (K17) units?
I thought that they would revert to Kepland (K17) units once the 100 counter ended.
Reply
lioninvestor Reply:
August 26th, 2009 at 12:52 pm
Hi S.E.
Kepland (k17) and Kepland 100 both refer to the same company.
The 100 beside the name simply indicates that the minimum lot size is 100 shares.
While the main Keppel Land is traded in lots of 1000 shares, if you have less than 1000 shares, you can always trade them on the unit market of Keppel Land shares.
Reply