Diversifying Ruined

Sorry for the poor quality

And before I was notified of this by my friend (thanks Gavin Teo), earlier in the morning at 9am sharp when the SGX market open, the first ever IPO that I was allocated, opened at $1.80. Mermaid Maritime's offering price was $1.56, thats a 15% increase! However, I did not sell straight away. Monitor the stock for an hour before letting go at $2.00. A healthy 28% profit. Market sentiments was really bad before the opening as many people were commenting that it was quite a bad IPO at the price of $1.56 with few of their vessels caught on fire this year. Fundamentally, the company is doing just fine but with the high price of $1.56, its riskiness level was high. Hence, I have decided not to keep this stock, selling on profit on the first day. Based on the IPO data from Listedcompany.com, the overall market sentiments for IPO this year is relatively still good especially after the STI broke record new high. So I decided to speculate on this one.

More importantly, my focus is actually on another IPO that will be commencing trading tomorrow. China Oilfield's prospectus looks really good for an IPO with an offering price of $0.60. Their business has high level of entry, management wise, its above average and they have some healthy cashflow operations. Can't wait to check my CDP account tonight for the results.

Just to divert attention back to my personal life, I have a friendly soccer match against Hall 11 later at 6pm. Really hope it will not rain later. Antipating for this match as its our first ever match after 3 training sessions. As a team, I could not see the gel yet but there is still time. We may not have any outstanding players but hey a team with average skills and superb teamwork are stronger as a whole!

Now, will the results of China Oilfield IPO and the outcome of the match made my day? Stay tuned for updates tonight. Cheers :)