My first foray into the market was a good one.
Barely a fortnight after my brokerage account was set up, Global Logistic Properties and Mapletree Industrial Trust went up for IPO.
Knowing next to nothing about the stock market, I simply applied for a few lots for both the govt- linked companies and got both. Striked lucky on both.
GLP
Sold my GLP shares on the 2nd day of trading for $2.20.
Profit of 24cents per share before commissions.
MIT
The temasek backed REIT didn't start off as well, rising to merely $1.20 before settling down to it's current resistance of $1.11 and support at $1.09.
Deciding to keep this share for the long term as the board promises 7.6% p.a. pro rated from date of listing to 31 march 2011, and 8.0% pa for the financial year ending march 2012. Not a bad dividend, what with the poor interest rates in singapore now.
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