Mapletree greater china commercial trust opens at a higher price than what I expected. Here are the price info for the first 2 days:
7 March:
open 1.02, low: 1.02, high: 1.045, close 1.03
8 March:
open 1.035, low: 1.035, high: 1.055, close 1.05
At its last done price of 1.05, the yield is only 4.96%. Currently reits are having an average yield of 5.68% (based on reitdata.com). The current yield is no longer as attractive.
I have gotten some shares from the IPO and have sold at $1.04 on Friday. I will be reinvesting the proceeds to Mapletree Industrial trust instead. The current yield is about 6.7%
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