I struck IPO lottery!

According to the report in SCMP, I kinda struck IPO Lottery! :) Only 6% of IPO subscriber for SinoPharm got their shares, albeit at the minimum 400 shares at hkd$16. You cannot imagine how miserable 400shares was since I actually had put in a bid for HKD$3million worth of shares but got allocated 400 shares. SinoPharm was active today on HK exchange and I sold my 400 shares for some kopi-money.

Tomorrow, it will be the turn of Metallurgica and I was allocated 1000 shares out of my bid of HKD$3million. Again, chump change for some kopi.

Hopefully, I will be third time lucky and strike another IPO lottery with the next IPO, China Resources Cement. This time, I have put in a bid of HKD$15million. Now let's see how many shares I will be allocated!

Sad to say, the free lunch is getting harder to get for Hongkong IPOs of credible companies.

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Getting shares in IPO lottery far from being a sure bet

South China Morning Post
23 Sep 2009

There is no longer any such thing as a free lunch in the initial public offering market. More retail investors are putting money into the share sales because of their relatively high returns and low risks in a short period. But securing a piece of...read more...

Tech Tags: South China Morning Post newspaper Currencies & Capital Markets