IPO - Accordia Golf Trust

Out of the blue my broker contacted me and asked whether I would like to subscribed some IPO shares of Accordia Golf Trust.  

I was quite surprised because my broker has never done that in the past and normally he never bothered with small investors like myself.  This was the first alarm bell.

I thought then that maybe the response for this particular IPO was just too lukewarm and they have many unsubscribed units.

I asked how many lots I can get and was told as many as I wished.  Second alarm bell rang and I declined and told him that I have no money to purchase.

The outcome was really true that the public offer was undersubscribed.  It was just approximately 0.7 times subscribed and it was such a long time since an IPO was undersubscribed.

The most likely scenario is Accordia Golf Trust will be a submarine when it starts trading.

I think many people will probably get burnt, especially those who applied 50-100 lots and thinking that they will be allocated only a few lots.

My Stock Portfolio @ end Jun 2014

No.	Stock Name	Lots	Portfolio%	Avg Cost$	Breakeven$	Market$
1	SGX	3	15.80	4.19	2.85	6.95
2	Starhub	5	15.80	3.22	2.72	4.17
3	SPH	5	15.80	3.99	3.39	4.17
4	SingTel	2.2	6.39	3.37	3.20	3.85
5	AIMS AMPI Reit	5	5.46	1.47	1.42	1.44
6	CapitaLand	2	4.85	3.91	3.61	3.20
7	SATS Ltd	2	4.76	3.06	3.10	3.14
8	CapitaMall Trust	3	4.49	1.71	1.14	1.975
9	Suntec Reit	3	4.12	1.52	1.11	1.81
10	CDL HTrust	3	4.00	1.66	1.11	1.76
11	SIA Engg	1	3.83	4.86	4.92	5.05
12	Starhill Global	6	3.75	0.71	0.54	0.825
13	Frasers CT	2	2.87	1.81	1.78	1.895
14	HPH Trust	3	2.03	0.90	0.83	0.72
15	SPH Reit	2	1.55	0.94	0.93	1.025
16	Boustead	1	1.43	1.44	1.43	1.885
17	Sing Post	1	1.32	0.875	0.67	1.735
18	CitySpring	3	1.08	0.65	0.46	0.475
19	FE HTrust	1	0.66	0.93	0.87	0.87

Movement in my portfolio in Jun:-
Sold:- Nil.
Bought:- Nil.

Dividends collected in Jun: $138.50
2014 avg dividends/month: $425.83

An interesting coincidence that my top three holdings are exactly the same total amount.

Poor dividend intake for June and also coming July.  Can't wait for August to come...