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First Real Estate Investment ( (SG:AW9U) ) has shared an announcement.
First REIT has issued 465,478 new units to its manager, First REIT Management Limited, as payment in kind for a divestment fee of S$129,542.57 arising from the sale of the Imperial Aryaduta Hotel & Country Club via the disposal of PT Karya Sentra Sejahtera. The units were priced at S$0.2783 each, based on the 10-day volume-weighted average price on the Singapore Exchange prior to issuance, raising the manager’s stake to 231,654,222 units, or 10.97% of the REIT’s total units in issue, with the divestment fee units subject to a one-year lock-up under Singapore’s property fund regulations.
The most recent analyst rating on (SG:AW9U) stock is a Hold with a S$0.50 price target. To see the full list of analyst forecasts on First Real Estate Investment stock, see the SG:AW9U Stock Forecast page.
More about First Real Estate Investment
First Real Estate Investment Trust (First REIT) is a Singapore-listed real estate investment trust focused on healthcare and related assets, managed by First REIT Management Limited. It invests primarily in income-producing properties across Asia, and its units are traded on the Singapore Exchange, offering investors exposure to a diversified portfolio of healthcare real estate.
Average Trading Volume: 1,373,174
Technical Sentiment Signal: Buy
Current Market Cap: S$591.1M
See more insights into AW9U stock on TipRanks’ Stock Analysis page.