Sixth time (un)lucky?

Previously for IPO applications...

CMA - unsuccessful
Ryobi Kiso - unsuccessful
Cache - successful (see Third time lucky)

MIT - unsuccessful
STX OSV - unsuccessful
Sabana - successful (again only allotted one lot as is the norm for applications of less than 10 lots)

Alas...

"Sabana REIT falls on market debut

Sabana Shariah Compliant REIT , which owns industrial properties, fell on its debut in Singapore on Friday, weighed down by jittery market sentiment.

At 2:05 p.m., Sabana REIT was traded at $1.00 with 15.9 million shares traded. The shares traded as low as $0.97 -- 7.6% below the initial public offering price of $1.05.

Sabana REIT, Singapore’s first Islamic REIT and the world’s largest shariah-compliant property trust, sold 508 million units at $1.05 each in its IPO. The IPO was 2.5 times subscribed.

Sabana controls 15 industrial properties in Singapore with an aggregate floor area of about 3.3 million square feet."

Guess only time will tell how this is going to turn out...

Note to self: Low of $0.97 on first day of trading, @$0.96 annualised yield for Sabana will be ~9% in 2011; with a purchase of a further two lots @$0.96, average unit cost for me will be $0.99 and blended yield of Sabana holdings will be 8.72% in 2011