It seems that blue chips are the hot kids in town right now. Most of them are experiencing some very healthy gains recently. Their opposite, the pennies, aren't doing that well (although there's still some that did superbly).
With the blue chips being so bullish, the physiological effect it has on the masses is that, the economy is doing very well. Thus, many companies took this opportunity to either release rights issue to generate additional funds or come up with large IPOs.
The current 2 big IPOs are the Global Logistics Properties (GLP) and Mapletree Industrial Trust (MIT). With the former being priced at $1.96 and the later at $0.93. Each hoping to raise $3billion and $1.19billion respectively. The 'backers' for these 2 IPOs are quite powerful too. Thus, I do think that they are the stocks worth putting money into (As of now, the IPO for GLP is closed. MIT will be closed on 18th Oct 2010, 8am).
If they perform well on their first week or so, do lookout for our STI to end the year off with a high note.
P.S: I've applied for the GLP IPO. Have you?
Cheers,
SafetyChaos
SafetyChaos
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