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The latest substantial shareholder of this REIT, Dragon Pacific Assets Limited, has increased its stake in the REIT again today. Its stake increased from 7.21 % To 11.39 % and it now owns 167,010,000 units.
I have not been able to find any information on Dragon Pacific Assets Limited and I am very curious as to its background. I am also very curious regarding the identities of the sellers. The same reason has been given for the buy up as before: Acquisition for investment purposes.
The REIT closed at 23c, the upper end of its range and with it going XD tomorrow, I would be very surprised if this long term resistance could be overcome. Then again, never say never.
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