Bowsprit Capital, the manager of First REIT, said on Wednesday that it wasn’t aware of any material public information that could be driving the REIT’s unit price volatility.
Units of First REIT have tumbled since late October, falling from a high of S$1.23 on 26 October to as low as S$0.92 on Tuesday. The unit ended Wednesday at S$0.99, up 1.54 percent.
But Bowsprit added that it was “continuously reviewing potential acquisition opportunities as well as the potential means of funding these acquisitions,” saying that was in line with its growth strategy.
“In the course of such review, the manager may from time to time enter into discussions with vendors for potential acquisition opportunities and consider equity fund raising options to fund such acquisitions,” the statement filed to SGX after the market close on Wednesday said.
“There is no certainty that any such discussions may materialise and no agreement has been entered into by the manager in respect of any such potential opportunities,” the statement said.
It advised investors to use caution when dealing in the units.