Wing Lee Property Investments (HKG:0864) granted options to subscribe for nearly 12 million ordinary shares to four grantees under a 2025 incentive scheme, an Oct. 17 Hong Kong bourse filing said.

Shares of the real estate investor were down over 2% in Monday afternoon trading.

Of the total, 386,175 shares were granted to the firm's chair, with nearly 3.9 million options granted to each of the CEO and two executive directors.

The shares represent around 3.1% of its issued share capital.