Starhill Global Reit

Starhill Global Reit: has converted 152.7m convertible preferred units (CPU) into 210.2m new REIT units, at a price of $0.7266 per unit. This represents a 10.8% increase in the unit base. Based on FY12 numbers, NAV/unit will decrease from $0.97 to $0.87. With this conversion, major shareholder YTL’s stake in the REIT has risen from 29.4% to 36.3%.