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First Reit units tumble 21.5% after Lippo says it cannot sustain rental support

Published Mon, Jun 1, 2020 · 09:50 PM
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Singapore

UNITS of First Real Estate Investment Trust (Reit) were sold down on Monday, after its former parent company Lippo Karawaci (LPKR) announced plans to start discussions to restructure its leases as the Covid-19 pandemic renders its rental subsidies to the healthcare Reit "unsustainable".

The units dropped 11.3 per cent during the morning session before a trading halt was called.

The price continued its decline after the halt lifted in the afternoo…

SEE ALSO
First Reit H2 DPU falls 6.1% to S$0.0124 on currency depreciation
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