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DBS disposes of 14.2 mil KORE units for total of US$1.8 mil

Felicia Tan
Felicia Tan • 1 min read
DBS disposes of 14.2 mil KORE units for total of US$1.8 mil
Following the disposals, DBS now holds 0.592% of all the units in KORE. Photo: KORE
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DBS Bank has disposed of a total of 14.2 million units in Keppel Pacific Oak US REIT (KORE) via the open market.

The disposals were made in two waves.

On Feb 20, the bank sold 5.83 million units in KORE for US$749,491.94 ($1.01 million) or 12.86 US cents apiece on Feb 20.

On Feb 21, the bank sold another 8.35 million units for US$1.05 million or 12.53 US cents apiece.

Following the disposals, DBS now holds 0.592% of all the units in KORE.

On Feb 15, KORE’s manager announced that it plans to suspend its distributions along with a plan to recapitalise the REIT. The suspension of distributions began for the 2HFY2023 and will last till the 2HFY2025.

See also: UMS insiders, AEM independent director raise respective stakes; DBS CEO gains $13.8 mil in sale

Units in KORE closed 0.3 cents higher or 2.34% up at 13.1 US cents on Feb 26.

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