Sunday, September 12, 2021

Subscribed to Sembcorp Marine Rights Shares


I had some "free" shares of Sembcorp Marine from the demerger with Sembcorp Industries in 2020.

Earlier, I have shared my strategy for this Sembcorp Marine Rights exercise.

I had also given 5 reasons on why I decided to subscribe to this sinking boat. 

I saw this letter lying on the table and knew that the dateline is on 14 Sep 2021, 9.30pm.

There it goes. Now I have subscribed to my small entitlement of 17,700 shares and 300 shares. 

It is the first time I use Paynow to participate in corporate actions. The benefits of using Paynow instead of ATM are saving $2 and time. 

The Rights Shares will be credited to CDP and commence trading on 22 Sep 2021, 9am.

I would expect the share price of SMM to remain weak and maybe plunge below $0.08. This will be a small long-term speculative play for me so I am not bothered.

Meanwhile, I am conserving war chest, waiting for the next correction in the US stock market and hope to accumulate some growth stocks.

On the local SGX front, I hope that Reits in my portfolio will continue to buy income producing assets and involve retail investors through preferential offering.

Thanks for reading. As usual, stay safe and remain strong.

With love and peace,

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