SINGAPORE (THE BUSINESS TIMES) – The manager of Prime US Reit announced on Wednesday (July 7) that it will issue new units under its distribution reinvestment plan at 83.2 US cents per unit.
It had earlier made an application for a distribution reinvestment plan for the cumulative distribution of 3.42 cents per unit in the real estate investment trust (Reit), for the period from Jan 1 to July 5, 2021.
The issue price represents a 0.5 per cent discount to the adjusted volume-weighted average trading price per unit for all trades on the Singapore Exchange for each of the 10 market days prior to and ending on July 5, 2021.
The notice of election is expected to be dispatched to all eligible unitholders on July 13.
The Reit’s manager expects the cumulative distribution to be paid on and the new units under the distribution reinvestment plan to be listed on Aug 20, 2021.
Units of Prime US Reit closed at 86.5 US cents on Tuesday, down 0.5 cent or 0.6 per cent.