Hi friends,
In the middle of a night of a day last week, I chanced upon the opportunity to apply for IPO for China Sunsine using the massively convenient internet banking. The IPO price was 39cts and I decided then to apply for 20 lots.
The next day after the closing date, I was informed that I have been successfully alloted 3 lots.
On trading day, I sold at 57.5cts. A nimble profit of 18.5cts per share or $500 over a few days.
Given the small success, I started to give IPO a little more attention. I applied to a few but was unsuccessful in all of them. The opportunities missed are as follows.
- RH Energy - IPO at 32cts and closed the trading day at 87cts.
- China Angel - IPO at 35cts. Traded as high as 80cts.
Moral of story - It confirms again - There is no sure thing. Caveat Emptor always.
P/S - Financial One - IPO'd at $1.15 and closed the day at $1.15.
3 comments:
interesting blog. keep it up!
so heng, i always ipo nv get. cos i dun have enough $$$, so ballot 3 lots nia..
sian
coscocorp wat u think ah?
i buy at 5.05..now 4.9..
+ director cash in 300 lots leh, profit, 1,515 000
Simon - Thks for compliment.
Hi anonymous - According to Citigroup's valuation, Cosco is fairly valued at $5.
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