First REIT Issues Units to Pay Management Fees

First Real Estate Investment (SG:AW9U) has released an update.

First Real Estate Investment Trust (First REIT) has issued 1,852,684 units to its manager as partial payment for management fees, with the remaining balance paid in cash. The issue price of S$0.2419 per unit was based on the average traded price on the Singapore Exchange over the previous ten business days. Following this issuance, the manager now holds 10.07% of First REIT’s total units.

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