$FIRST REAL ESTATE INV TRUST(AW9U.SI)$First Real Estate Investment Trust (First Reit): The Reit's manager on Monday announced a renounceable rights issue to raise S$158.2 million, which it said was critical for it to meet its debt covenants. The manager is proposing to issue around 791.1 million units at an indicative price of 20 Singapore cents each.No wonder the price is free falling