Details as above.
Interested friends, please drop me a message to open this trading account.
Be sure to catch this offer before it closes.
29 June 2017
S$10 TRADING FEE at UOB KAY HIAN!
Details as above.
Interested friends, please drop me a message to open this trading account.
Be sure to catch this offer before it closes.
28 June 2017
NetLink NBN Trust IPO book building exercise
Dear clients,
For those interested to participate in this exercise, please email the required information stated below:
1. TR code:
2. Client code:
3. Client name:
4. Indicative demand [ units ] :
5. Offering price: S$0.80 to S$0.93 per unit
Please note:
1) Book building exercise is scheduled to close on the 7 July 2017 (Friday), at 12 pm.
2) To avoid duplicate order, please email your order once only.
3) IOI must be reflective of the clients' true demand. No withdrawals or amendments to the IOIs will be permitted after the book is closed.
4) 1% brokerage plus GST is chargeable for allocable demand.
5) Allocation result will be communicated via email after the prospectus is registered with MAS.
ISSUER : NetLink NBN Trust (“NLT”)
TRUSTEE-MANAGER: NetLink NBN Management Pte. Ltd.
SINGTEL STAKE POST IPO: 24.99% before exercise of over-allotment option
LISTING : Mainboard of SGX-ST
LISTING CURRENCY: SGD
KEY INVESTMENT HIGHLIGHTS:
More detailed information on NLT business description can be found in the preliminary prospectus lodged with MAS dated 27 June 2017
· Critical infrastructure enabling Singapore’s Next Gen NBN
· Resilient business model with transparent, predictable and regulated revenue stream
· Sole nationwide provider of residential fibre network in Singapore, an attractive market with high demand for fibre broadband services
· Well positioned to benefit from growth in the non-residential segment as the independent nationwide network provider
· Well positioned to capitalise on growth in connected services including Singapore’s Smart Nation initiatives
· Extensive nationwide network affording natural barrier to entry
· Highly scalable operations and credit strength support unitholder returns
· Experienced management team with proven track record
SYNDICATE:
· Joint Global Coordinators and Issue Managers: DBS, Morgan Stanley and UBS
· Joint Bookrunners and Underwriters: DBS, Morgan Stanley, UBS, BAML, Citi, HSBC, OCBC and UOB
OFFERING PRICE RANGE: S$0.80 – S$0.93 per Unit
BASE OFFERING SIZE OF 2,898,000,001 units (appx $2,318.4m to $2,695.1m):
· Public offer of up to [S$250m]
· Over-allotment option (OA) of up to approx. S$100m: approx. 107.5m units to 125m units
TOTAL UNITS OUTSTANDING, POST OFFERING (ASSUME FULL OA OPTION EXERCISED): 3,971.5m units to 3,989m units
FORECAST DISTRIBUTION YIELD
· FP2018E: 4.73% to 5.50% (annualized);
· FY2019E: 4.99% to 5.80%
All distributions are exempt from Singapore tax for all investors
MARKET CAPITALISATION (BASED ON OFFERING PRICE RANGE): S$3,091.2m – S$3,593.5m
LOCK-UP: 6 months (from Listing Date) lock-up for the Trustee-Manager, Singtel and HoldCo
USE OF PROCEEDS:
· Settlement of the cash component of the aggregate consideration payable to Singtel for the acquisition of 100% units of NetLink Trust (NLT) by the Trust;
· Repayment of the principal amount of S$1,100,000,000 due and owing under the facility agreement with Singtel;
· Funding the consideration for the purchase by the Trust Group of approximately 27,000 lead-in ducts from Singtel;
· Funding the consideration for (a) the purchase by the Trust of the shares of NLT Trustee and (b) the purchase by Unitholders of beneficial interests in the Trustee-Manager;
· Payment of the equity issue expenses and other costs
· If the over-allotment option is exercised in full, the additional proceeds may be used for capital expenditure and general corporate purposes
INDICATIVE TIMETABLE:
· Books open: 27 June, 2017 upon MAS lodgment
· Books close: 12pm, 07 July, 2017 or subject to notification by the Bookrunners
· Pricing & allocation: 10 July, 2017
· MAS registration: 10 July, 2017
· Singapore Public Offer: 10 – 17 July, 2017
· Listing: 19 July, 2017 at [3PM]
SELLING RESTRICTIONS: Regulation S, Cat 1.
END PLACEE BROKERAGE: 1.0% & applicable GST payable by all investors in the Placement Tranche
MULTIPLE APPLICATIONS: Multiple applications are allowed between the Placement and Public Offer Tranches
Preliminary Prospectus
https://eservices.mas.gov.sg/opera/Public/SD/ViewOfferDoc.aspx?shrID=28909a732b1d42649c306764a5b3325b
For those interested to participate in this exercise, please email the required information stated below:
1. TR code:
2. Client code:
3. Client name:
4. Indicative demand [ units ] :
5. Offering price: S$0.80 to S$0.93 per unit
Please note:
1) Book building exercise is scheduled to close on the 7 July 2017 (Friday), at 12 pm.
2) To avoid duplicate order, please email your order once only.
3) IOI must be reflective of the clients' true demand. No withdrawals or amendments to the IOIs will be permitted after the book is closed.
4) 1% brokerage plus GST is chargeable for allocable demand.
5) Allocation result will be communicated via email after the prospectus is registered with MAS.
ISSUER : NetLink NBN Trust (“NLT”)
TRUSTEE-MANAGER: NetLink NBN Management Pte. Ltd.
SINGTEL STAKE POST IPO: 24.99% before exercise of over-allotment option
LISTING : Mainboard of SGX-ST
LISTING CURRENCY: SGD
KEY INVESTMENT HIGHLIGHTS:
More detailed information on NLT business description can be found in the preliminary prospectus lodged with MAS dated 27 June 2017
· Critical infrastructure enabling Singapore’s Next Gen NBN
· Resilient business model with transparent, predictable and regulated revenue stream
· Sole nationwide provider of residential fibre network in Singapore, an attractive market with high demand for fibre broadband services
· Well positioned to benefit from growth in the non-residential segment as the independent nationwide network provider
· Well positioned to capitalise on growth in connected services including Singapore’s Smart Nation initiatives
· Extensive nationwide network affording natural barrier to entry
· Highly scalable operations and credit strength support unitholder returns
· Experienced management team with proven track record
SYNDICATE:
· Joint Global Coordinators and Issue Managers: DBS, Morgan Stanley and UBS
· Joint Bookrunners and Underwriters: DBS, Morgan Stanley, UBS, BAML, Citi, HSBC, OCBC and UOB
OFFERING PRICE RANGE: S$0.80 – S$0.93 per Unit
BASE OFFERING SIZE OF 2,898,000,001 units (appx $2,318.4m to $2,695.1m):
· Public offer of up to [S$250m]
· Over-allotment option (OA) of up to approx. S$100m: approx. 107.5m units to 125m units
TOTAL UNITS OUTSTANDING, POST OFFERING (ASSUME FULL OA OPTION EXERCISED): 3,971.5m units to 3,989m units
FORECAST DISTRIBUTION YIELD
· FP2018E: 4.73% to 5.50% (annualized);
· FY2019E: 4.99% to 5.80%
All distributions are exempt from Singapore tax for all investors
MARKET CAPITALISATION (BASED ON OFFERING PRICE RANGE): S$3,091.2m – S$3,593.5m
LOCK-UP: 6 months (from Listing Date) lock-up for the Trustee-Manager, Singtel and HoldCo
USE OF PROCEEDS:
· Settlement of the cash component of the aggregate consideration payable to Singtel for the acquisition of 100% units of NetLink Trust (NLT) by the Trust;
· Repayment of the principal amount of S$1,100,000,000 due and owing under the facility agreement with Singtel;
· Funding the consideration for the purchase by the Trust Group of approximately 27,000 lead-in ducts from Singtel;
· Funding the consideration for (a) the purchase by the Trust of the shares of NLT Trustee and (b) the purchase by Unitholders of beneficial interests in the Trustee-Manager;
· Payment of the equity issue expenses and other costs
· If the over-allotment option is exercised in full, the additional proceeds may be used for capital expenditure and general corporate purposes
INDICATIVE TIMETABLE:
· Books open: 27 June, 2017 upon MAS lodgment
· Books close: 12pm, 07 July, 2017 or subject to notification by the Bookrunners
· Pricing & allocation: 10 July, 2017
· MAS registration: 10 July, 2017
· Singapore Public Offer: 10 – 17 July, 2017
· Listing: 19 July, 2017 at [3PM]
SELLING RESTRICTIONS: Regulation S, Cat 1.
END PLACEE BROKERAGE: 1.0% & applicable GST payable by all investors in the Placement Tranche
MULTIPLE APPLICATIONS: Multiple applications are allowed between the Placement and Public Offer Tranches
Preliminary Prospectus
https://eservices.mas.gov.sg/opera/Public/SD/ViewOfferDoc.aspx?shrID=28909a732b1d42649c306764a5b3325b
26 June 2017
Monthly Dividend US counters
Sharing some information for your reference, these are the list of US counters that has monthly dividends. However please note that there is a dividend tax of 30% regardless citizenship. And these dividend yield as tabulated are before dividend tax.
Two of the common concerns with dividend counters:
1. Dividend to be paid consistently? The company is not obligated to issue dividends, though they will promise to do so.
2. while dividends can be paid consistently if the share price were to fall, it is almost like taking money out from the capital itself. Thus 0 net gain overall.
Please note this is not a recommendation, rather a suggestion and info sharing for all.
Happy holidays
Two of the common concerns with dividend counters:
1. Dividend to be paid consistently? The company is not obligated to issue dividends, though they will promise to do so.
2. while dividends can be paid consistently if the share price were to fall, it is almost like taking money out from the capital itself. Thus 0 net gain overall.
Please note this is not a recommendation, rather a suggestion and info sharing for all.
Happy holidays
23 June 2017
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