not vested
OUE Commercial Trust had a lacklustre debut yesterday, closing flat after spending much of the day between 77-79 cents, below the IPO price of 80 cents.
The lacklustre performance was in line with our cautious assessment of the stock due to its high gearing, unattractive “true” yield of 5-6%, and highly concentrated portfolio consisting of only 2 properties.
Source: Lim & Tan