CapitaLand Ascendas REIT Issues Units for Fee Payment

CapitaLand Ascendas REIT (SG:A17U) has released an update.

CapitaLand Ascendas REIT has issued over 3.3 million units at S$2.5741 each to CLI RE Fund Investments Pte. Ltd. to cover 20% of their base management fee for the six-month period ending May 2024. This strategic move allows the REIT to compensate management partly in stock, aligning interests with shareholders and expanding its total units in circulation. This distribution of units also reflects a slight increase in the management’s stake in the REIT, though it remains below 0.01% of the total units.

For further insights into SG:A17U stock, check out TipRanks’ Stock Analysis page.