Yuexiu Real Estate Investment Trust (00405) said it issued about 109 million new fund units yesterday at HK$0.645 each to pay the manager's basic fee for the first half of the year, which totaled RMB60.878 million, or about HK$70.369 million, according to ETNet.
The group said first-half service fees of about RMB15.646 million, or about HK$18.085 million, were paid in cash to the REIT manager and the onshore manager. It added that, because the REIT manager wants to focus on management duties, it has designated a wholly owned subsidiary of Yuexiu Property to receive the manager fee units issued to settle the basic fee. Its holdings rose to about 790 million units, or 14.64% of the enlarged issued units.