ParkwayLife REIT (SGX:C2PU) experienced a significant downturn in pre-market trading, with its shares plummeting 5.16%. This sharp decline comes in the wake of a recent announcement regarding unit disposals by the REIT's manager.
According to a filing with the Singapore Exchange on Friday, Parkway Trust Management, the manager of ParkwayLife REIT, disposed of 147,300 units to eligible employees as part of its long-term incentive plan. Following this transaction, the manager's holdings in the REIT have been reduced to 1,364,343 units.
The market's negative reaction to this news suggests that investors may be concerned about the implications of the unit disposal. While employee incentive plans are common, the timing and volume of the disposal appear to have triggered a selloff. Investors will be closely monitoring any further developments or statements from ParkwayLife REIT's management to gauge the potential impact on the REIT's future performance and strategy.
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