Lendlease Global Commercial REIT (SGX:JYEU) issued 14.5 million new units on Friday to settle management and property fees for the first two quarters of FY25, according to a same-day filing on the Singapore Exchange.
For 1Q FY25, Lendlease issued 9.1 million units at an average price of SG$0.6093 and for 2Q FY25 at SG$0.5433, totaling SG$5.2 million for REIT management fees.
Another 5.4 million units were issued at the same average prices, totaling SG$3.1 million for property management fees.
Lendlease GCR Investment Holding (LGCRIH) received the units on behalf of the manager and property manager. Following the issue, LGCRIH holds 120.1 million units, representing 4.93% of total units, while the manager holds 41 million units (1.68%).
Lendlease's total outstanding units rose to 2.44 billion.
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