Today marks the completion of merger between Capitaland Mall Trust (CMT) and Capitaland Commercial Trust (CCT) to form the largest Reit in Singapore called Capitaland Integrated Commercial Trust (SGX:C38U). Do note that the ticker name of the new entity is the same as former Capitaland Mall Trust.
For shareholders of CMT, no action is required; for shareholders of CCT, they will receive 0.72 share of CICT and 25.9 cents today on 28 Oct 2020 for every share of CCT owned.
As I own 10,000 shares of CCT, I have received the 7,200 CICT shares from the conversion of CCT and $2,590 in cash from the capital return.
Together with my existing 7,800 CMT shares, in total, I now have 15,000 shares of CICT geared for the post Covid recovery of the economy and retail scene.
Besides admin stuff related to conversion of CCT shares, for those of you who are using a Philips Capital POEMS trading account, there is an odd lot (<=99 shares) brokerage promotion for trading CICT applicable to cash, CPF and SRS. There will be no brokerage fee imposed on the trade but SGX clearing fee, access fee and GST still apply.
As the share price of CICT languishes at an attractive level now, I may make good use of this promotion to add on to CICT in the next few weeks by adding 99 shares every day.
With love & peace,
Qiongster
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