--- title: "New Telecom's stock price opened up 0.8% on Wednesday | Lianhe Zaobao" type: "News" locale: "en" url: "https://longbridge.com/en/news/281956410.md" description: "The stock price of SingTel rose 0.8% to SGD 5 at the opening on Wednesday, despite a drop in price after announcing a preferential share on Tuesday. Li Cai Lian, head of the stock research department at OCBC Bank, stated that a 3.7% dividend yield remains attractive to long-term investors. She expects no large-scale sell-off, as most shareholders are over 50 years old and eligible to withdraw cash. Analysts are optimistic about SingTel's prospects, with 12 out of 14 analysts recommending a buy" datetime: "2026-04-08T01:52:23.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281956410.md) - [en](https://longbridge.com/en/news/281956410.md) - [zh-HK](https://longbridge.com/zh-HK/news/281956410.md) --- # New Telecom's stock price opened up 0.8% on Wednesday | Lianhe Zaobao After the announcement of the new telecom preferential shares on Tuesday (April 8), the company's stock price declined. On Wednesday, the stock opened higher at SGD 5, up 0.8% from the previous day's closing price of SGD 4.96. The transfer of preferential shares to the Central Depository (CDP) account does not affect the company's fundamentals and outlook, and the drop in stock price following the announcement is a reflexive response. Li Chailian, head of the stock research department at Oversea-Chinese Banking Corporation, told Lianhe Zaobao that for investors seeking long-term returns, the existing 3.7% dividend yield of the new telecom remains attractive. As for whether the ability to cash out preferential shares will bring short-term selling pressure, Li Chailian stated that among approximately 615,000 shareholders, most are over 50 years old. According to the current Central Provident Fund (CPF) system, most CPF members can withdraw cash from share sales after turning 55. Even if the process is further simplified, investors over 55 already have cash-out channels. Based on this, she expects no large-scale sell-off. According to information collected by Bloomberg, 14 out of 16 analysts recommend buying, while two suggest holding, with a median target price of SGD 5.45. Most of these recommendations were made between February and April of this year. Analysts are optimistic about the asset value release of the new telecom, as well as developments in data centers and artificial intelligence. Currently, investors have several options, including continuing to hold the stock, selling and keeping the funds in CPF to earn a 2.5% interest rate, or selling the stock to withdraw cash and deposit it in the bank. #### Further Reading New telecom preferential shares can be cashed out starting tomorrow. How did analysts view this stock earlier? After the announcement of preferential shares, new telecom stock price fell by 3% at one point. Analysts: It does not affect fundamentals. Li Chailian reminded that the interest rate for ordinary CPF accounts is 2.5%, while the new telecom's dividend yield is about 3.7%, and bank deposit rates are below 0.1% In October 1993, New Telecom officially became a listed company, with the initial public offering (IPO) accounting for 11% of the company's equity. During this period, the government launched the New Telecom Discount Share (SDS) program as part of the national asset appreciation strategy, allowing citizens to share in the economic achievements of the country through public ownership. At that time, Singaporean Central Provident Fund members who were 21 years old could subscribe to the discount shares at a discounted price twice. The prices were SGD 1.90 in 1993 and SGD 2.50 when launched in 1996. As of 9:36 AM on Wednesday, New Telecom's stock price rose by 0.81% to SGD 5. For more information on the Singapore stock market, please click here ### Related Stocks - [SGAPY.US](https://longbridge.com/en/quote/SGAPY.US.md) - [XTL.US](https://longbridge.com/en/quote/XTL.US.md) - [Z74.SG](https://longbridge.com/en/quote/Z74.SG.md) ## Related News & Research - [Beware of scammers posing as officials offering advice on Singtel discounted shares: CPF Board](https://longbridge.com/en/news/286192926.md) - [CNA Explains: How radio frequency bands are regulated - and why it matters for telcos](https://longbridge.com/en/news/286749863.md) - [Some elderly S’poreans unsure how to sell their Singtel discounted shares while others cash in early](https://longbridge.com/en/news/285876288.md) - [Singapore Telecommunications Ltd. (OTCMKTS:SGAPY) Short Interest Up 121.8% in April](https://longbridge.com/en/news/284105539.md) - [ProShare Advisors LLC Has $372.81 Million Stake in T-Mobile US, Inc. $TMUS](https://longbridge.com/en/news/286893588.md)