SPH REIT's property on Orchard Road, Paragon. (Photo: REITsWeek)SPH REIT's property on Orchard Road, Paragon. (Photo: REITsWeek)

The manager of SPH REIT has elected to receive its management fee from 1 December 2019 to 29 February 2020 in the form of REIT units.

A total of 2,547,367 units in SPH REIT were issued at the average price of SGD1.0438 each for the payment.

The issue price is based on the volume weighted average price per unit for all trades done on the SGX for the ten business days immediately preceding 29 February 2020.

With this issue, the manager’s unitholding in SPH REIT is 69,835,857 and the total number of issued units in SPH REIT is 2,759,768,588.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.