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not true, i can put in $1mil and gurantee full allotment, but too bad i dont have so much spare cash
My OCBC banker said each individual can apply at most up to $20K.
Strange..., standardchartered bank called me, my ocbc broker also asked me, wonder if ocbc is testing the market response or they are really going to raise huge amount from the public.
Contact your OCBC Securities broker or OCBC banker.
des_khor ( Date: 01-Jun-2008 23:28) Posted:
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How to apply this ?? still open ??
jm2212,
Spoke to my broker today. OCBC will not be charging the admin fee.
They will need applicants to make payment upfront.....if allocation is less than amount applied, they will refund the difference.It will be like IPO application.....where you pay upfront for the shares applied but you may not get the full allocation.
jm2212,
The 0.35% admin fee was told to me by my OCBC Securities broker. Perhaps there is no fees if you get it thru OCBC bank....but, anyway, its a small amount.
The Pref shares have been in principle approved by SGX....so, it will be listed and traded on the xchange. Whether you make $$$ or not, depends on market sentiments......which will probably be determined by interest rates.
this is my first time to take up a preference share, was told even i dont wish to hold for 5 years, i probably can still make some profit when it starts trading on the 1st jul, hopefully this is correct. anyway, $ collected and allocment starts from next monday.
shplayer, i was told there is no other charges to subscribe the preference share, could it be i get direct from the bank?
shplayer ( Date: 27-May-2008 23:03) Posted:
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Shplayer, you are right, the summary is for the ordinary shares not the preference shares. Sorry for any confusion caused.
shplayer ( Date: 27-May-2008 23:03) Posted:
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Errrh Blastoff,
The trade summary is for OCBC ordinary shares.
The Preference shares in discussion in this thread has not been issued or listed on the SGX.
From what I understand from my broker, each tranche is $10K....min application is 2 tranches ($20K) and single tranche thereafter....i.e. you can apply for 2, 3, 4, 5 etc tranches.
Interest (or divvy) is 5% and lock in is 5 yrs. Initial admin fee is 0.35%....so, say you get 10 tranches, you pay $100,350....thereafter, when if/when you sell on SGX, you pay the usual brokerage comm + GST + clearing fees.
Interest for 'post' lock in has ot been decided.
A summary for today.
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pref. shares are not risk free so read carefully details of offer before commit. (imho, pref. shares are only safer than ordinary shares.)
this will be a 5 years tenure @ 5% annual yield, this is probably quite a safe bet in this current volatile environment.
How to apply for this ??
jm2212 ( Date: 26-May-2008 11:02) Posted:
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wah... you guys are rich... OCBC almost $20 leh...
details of the offer are not out yet. not even approved yet. so wait and see ba...think small investors hard to get.
anyone taking up this one? i'm putting some amount into this to collect the annual 5% dividen pay out.