My first trade in 2022 was to buy $IFAST (AIY.SG)$ at $7.9 ...
My first trade in 2022 was to buy$IFAST (AIY.SG)$at $7.9 during the recent price pull back when company annouced the acquisition of a digital bank in UK; and issuance of new shares to institutional investors ($7.50) which was a discount to prevailing market price . Some major insiders , including Malaysian partners also added their stakes in the exercise . The placement price came in at the upper range , meaning there is very strong demand. Overall i view this corporate action as mid to long term positive even though there will be short term hit to their profits . iFAST management had already shared about their 5-year growth plans and this acquisition in Europe is inline with the plan . So far they have delivered on what they planned , so i have confidence on business and price growth for the nexr 2-5 years . With interest rate hikes coming which is generally positive to banks. Hence this buy to accumulate with prudent position size and money management .
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