- Evaluation of Operations and Financial results Released For 2nd Half 2020 And Full Year.
Prime US REIT IPO ("PREIT") debuted on SGX on 19 July 2019 at a price of USD0.88 per unit. PREIT is sponsored by KBS Asia Partners which is one of the largest US commercial real estate managers with USD 28.3 billion under their direct investment and management belt. At one point in time, its market price even hit USD 1.050 per unit in the early part of 2020. Unfortunately, we all know what happened next. The March'20 stock market crash came along due to COVID lockdowns almost everywhere. PREIT share price struggled to break the USD0.80 per unit resistance level until recently. This was surprising given that its earnings has remained resilient during the COVID pandemic due to its excellent property Grade A portfolio, long WALE and good quality tenants.