UNITS of Keppel Pacific Oak US Reit (Kore) were trading down 34.8 per cent at Thursday’s (Feb 15) open, following its announcement on distribution suspension.
As at 9.11 am, its counter fell US$0.087 to US$0.163 with 6.4 million units changing hands. It is an all-time low since Kore was listed on the Singapore Exchange in 2017.
Its manager announced before the market opened that the real estate investment trust (Reit) has suspended distribution for two years as a recapitalisation plan to raise capital for sustained investments.
Kore’s distributable income for the second half year ended Dec 31, 2023, dropped 10.1 per cent on the year to US$26.1 million, based on its delayed results.
The manager...
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